Copenhagen, Denmark, Jan. 23 (Korea Bizwire) —
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- Agreement signed between the government of Kenya, UNOPS and partners hopes to deliver at least 100,000 affordable, sustainable homes nationwide
- UNOPS and its partners aim to attract $647 million worth of investment in the project
- UNOPS and the government of Kenya to deliver mass affordable housing project across the country with a focus on sustainability.
- UNOPS to invest $10 million in seed funding to kickstart investment
- The project has a total estimated gross development value of around $4.7 billion
UNOPS landmark affordable housing agreement with the government of Kenya has taken a major step forward this week, following further details of the project announced by Executive Director Grete Faremo in New York.
As part of the agreement, UNOPS and its partners will seek to attract $647 million worth of investment to deliver at least 100,000 affordable and sustainable homes across the country.
The project will provide significant employment opportunities for local communities nationwide and help to alleviate the housing crisis in Kenya.
The agreement is a major milestone in UNOPS commitment to fostering innovative financing for the Sustainable Development Goals (SDGs), and will help the government of Kenya open access to sustainable, affordable and environmentally sound housing for its citizens.
UNOPS Executive Director, Grete Faremo said:
“Thousands of people in Kenya will be able to benefit from sustainable and affordable homes.
“By reducing the investment risks of development activities, we are helping to bring about new partnerships between the private and public sectors.
“The knock-on effect means unlocking new opportunities and providing jobs for local communities, which all helps drive progress towards the SDGs”.
The 100,000 houses are to be constructed using green technologies and energy-efficient solar rooftops, while the implementation work will include local equipment, skills and expertise. The needs of local communities will be a key priority of the project, through the inclusion of public facilities including children’s playgrounds, schools and community halls.
In a previous statement on the project, President Uhuru Kenyatta said:
“We are very excited about this project [with UNOPS] and we look forward to unlocking similar partnerships that will allow us to fulfil our duties as leaders and pave the way for adequate, decent, and affordable housing for Kenyans”.
UNOPS Social Impact Investment Initiative (S3i) seeks to de-risk infrastructure investment projects in an effort to help attract financing from the private sector to national development agendas. Projects selected are subjected to a rigorous due diligence process that will ensure a positive environmental, social and economic impact, with a financial return.
UNOPS mission is to help people build better lives and countries achieve peace and sustainable development. We help the United Nations, governments and other partners to manage projects, and deliver sustainable infrastructure and procurement in an efficient way. Read more about UNOPS: www.unops.org
About UNOPS Social Impact Investment Initiative (S3i)
UNOPS S3i seeks to de-risk and structure infrastructure investment projects in an effort to help attract financing from the private sector to national development agendas. Projects selected are subjected to a rigorous and comprehensive due diligence process that will ensure a positive environmental, social and economic impact, with financial returns for private sector investors.
Source: UNOPS via GLOBE NEWSWIRE