Italy offers to extend and expand debt-swap programme to Kenya

ITALY: The Italian government has offered to extend and expand its debt-swap programme, a move that will see Sh4.2 billion injected into the country's key socio-economic projects.

The decision was reached at a meeting between President Uhuru Kenyatta and Italian Prime Minister Matteo Renzi in Rome Monday.

Under the debt-for-development swap programme, the Government of Italy converted part of its outstanding debt to Kenya to funds that will finance projects in health, education, water and sanitation in high-poverty-density regions in the country.

President Kenyatta welcomed the expansion and extension of the debt-swap programme, saying it will go a long way in boosting the Government's efforts to improve the lives of Kenyans.

Uhuru who is on an official visit to  Italy was formally received by Mr Renzi.

During the bilateral talks that were attended by Cabinet secretaries Amina Mohamed (Foreign Affairs), Adan Mohamed (Industrialisation) and Joseph Nkaissery (Interior) and Attorney General Githu Muigai, Renzi also offered Italy's support to Kenya's war against terrorism through the training of Kenyan officers in counter-terrorism.

Italy also pledged to give Kenya equipment for border control and surveillance. The two countries agreed to step up their information gathering and sharing.

Details emerging from the meeting indicated that the training of the police officers will commence in October. The two also discussed joint co-operation in agricultural production to safeguard Kenya's food security, and the development and financing of small and medium-size enterprises.

Uhuru encouraged Italian companies to invest in Kenya's manufacturing industry to bridge the balance of trade between the two nations, which is currently in favour of Italy.

Kenyan exports to Italy last year stood at Sh7 billion and imports at Sh20 billion.