William Ruto Secures KSh 38.3b Loan From India For Agriculture, Vaccine Production

• President William Ruto's administration planned to increase food security by enhancing agriculture
• Ruto received support for the initiative from the Indian government during his two-day visit to the country
• India's prime minister extended a facility worth KSh 38.3 billion to support agriculture mechanisation and vaccine production in Kenya

TUKO.co.ke journalist Wycliffe Musalia brings over five years of experience in financial, business, and technology reporting, offering deep insights into Kenyan and global economic trends.

Kenya has received support for its food security initiative from the Indian government.

President William Ruto confirmed the receipt of a $250 million (KSh 38.3 billion) facility during his two-day state visit to India.

How Ruto plans to use KSh 38.3b from India

Ruto said the funds will be used to enhance agricultural mechanisation, vaccine production, and other interventions aimed at increasing food security.

"I thank you, Prime Minister, for the consideration of the US$250 million (Ksh 38.3 billion) for supporting Kenya in the space of agricultural mechanization and the whole space of vaccines and other interventions.

"I want to assure you that we will immediately embark on programs that have already been agreed on so that we can leverage on this facility to provide the much-needed services for the people of Kenya," said Ruto.

Ruto said the facility is in line with the Kenya Kwanza government's commitment to the people of Kenya.

The head of state noted that through the support, his administration will be able to deliver in the sectors of health and food security as we deal with the challenges of cost of living.

Is Ruto dealing with the cost of living?

The government levelled interventions, including the fertiliser subsidy, to enhance farmers' production.

Ruto authorised the operationalisation of Strategic Food Reserve Regulations, 2023, to boost food security.

"We will ensure that we produce enough food using mechanization, to improve our food security situation," he said.

The president oversaw the signing of five MoUs with India, which will enhance the bilateral relationship between the two countries.

In an effort to increase trade, India promised to open its market to Kenyan avocado fruits.