Ruto said it will have a new component referred to as Bridge Loan that will increase loan limits for borrowers with good credit scores as well as increase the loan repayment period. Low amounts disbursed as well as short repayment periods have been among the concerns for many borrowers.
"Financial inclusion is now a reality for millions of Kenyans," he said, referring to the impact that the Hustler Fund has had in advancing credit to Kenyans who may not have had access to financial services due to lack of credit history or collateral to secure loans.
The President said there has been progress on the construction of affordable houses, another of his pet project. "Since September this year, 1,200 affordable housing units have been completed. Additionally, the State Department of Housing has advertised 4,888 units available for sale to the public through the Boma Yangu platform," he said.
He added: "Our goal to increase the number of mortgages from 30,000 to one million has now shifted gears. Our delivery pipeline for affordable housing now has 124,000 units at various stages of development across Kenya, while 840,000 planned projects over the next four years are projected to create one million jobs."
The government, the President said, is also pushing its agenda of having more Kenyans secure jobs abroad in a bid to tackle unemployment in an economy that is not creating jobs fast enough for its young people.