The United Nations Office for Project Services, UNOPS, Landmark Affordable Housing agreement with the Government of Kenya has taken a major step forward following the signing of an agreement between the two parties to deliver 100,000 affordable, sustainable homes nationwide.
As part of the agreement, UNOPS and its partners will seek to attract $647 million worth of investment. The project will provide significant employment opportunities for local communities in Kenya.
The agreement is a major milestone in Sustainable Development Goals (SDGs), and will help the government of Kenya.
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, we are helping to bring about new partnerships between private and public sectors.
“The knock-on effect means unlocking new opportunities and providing jobs for local communities, which helps drive progress towards the SDGs”.
The 100,000 houses are being built using green technologies and energy-efficient solar rooftops, while the implementation will include local equipment, skills and expertise.
The needs of local communities will be key to the project, through the inclusion of public facilities including children’s playgrounds, schools and community halls.
President Uhuru Kenyatta said in a previous statement on the project: “We are very excited about this project and we look forward to unlocking similar partnerships that will allow us to fulfill their responsibilities 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. This project is designed to ensure that a positive environmental, social and economic impact, with a financial return.