From Standard Digital
The World Bank has approved $50 million (Sh4.35 billion) for Kenya to strengthen its capacity to manage the oil and gas sector. With the recent discovery of oil, the International Development Association (IDA) credit for the Kenya Petroleum Technical Assistance Project (Keptap) will focus on development measures to generate more private investment in the country’s oil and gas industry. This will boost more efficient production, manage the impacts, allocate higher government oil and gas revenues for development priorities. “The Government of Kenya acknowledges that the development of a successful petroleum sector is never about petroleum alone, but also about managing its impacts for sustainable development,” said Diarietou Gaye, the World Bank’s Country Director for Kenya.
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