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Senate Majority Leader Aaron Cheruiyot has welcomed the enactment of the National Infrastructure Fund Act, describing it as a major milestone in Kenya’s journey toward economic independence.
Cheruiyot said the new fund is designed to mobilise local capital to finance key infrastructure projects, reducing the country’s dependence on foreign loans.
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The Kericho Senator noted that the initiative represents a bold strategy to fund critical development projects using domestic resources.
He added that the move fulfills an important commitment made under the Kenya Kwanza administration led by President William Ruto.
According to Cheruiyot, the establishment and operationalisation of the National Infrastructure Fund was a key pledge in the Kenya Kwanza manifesto, aimed at addressing Kenya’s infrastructure financing gap, which is estimated at about four billion dollars.
The Senate Majority Leader said the fund provides Kenya with an opportunity to lessen its reliance on sovereign borrowing, which is often affected by global financial uncertainties and currency fluctuations.
He described the initiative as a crucial step toward creating a more stable and sustainable model for financing infrastructure in the country.
Cheruiyot also cited the planned upgrade of Jomo Kenyatta International Airport as one of the flagship projects expected to benefit from the fund.
He said about Sh20 billion, structured through equity participation from the fund alongside other domestic investments, has been allocated to support the modernisation of the airport.
The project is expected to upgrade the country’s main international gateway and position it as a leading aviation hub in the region.
The senator commended President Ruto and other stakeholders for pushing forward reforms that he said will strengthen Kenya’s economic independence, even amid political challenges.
He said the initiative reflects the government’s commitment to creating a sustainable domestic capital model that will help drive the country’s long-term development.
The National Infrastructure Fund is expected to attract investments from both public and private sources within Kenya to support major projects in sectors such as transport, energy, and logistics.
