On February 27th the Japan International Cooperation Agency (JICA) signed loan agreement with the Government of the Republic of Kenya in Nairobi to provide a Japanese ODA loan of up to 37.09 billion yen for the Mombasa Economic Zone Development Project (I).
The objective of the Project is to enhance transportation capacity and to stabilize the power supply by constructing a berth main road and electric facilities for the Mombasa Special Economic Zone which is located in Dongo Kundu thereby contributing to improvement of the investment environment of that area. The Project will contribute to the achievement of SDGs Goal 8.
Special Terms for Economic Partnership (STEP)* will apply to the Japanese ODA loan for this project and it is expected that advanced Japanese technology such as jacket type structure and long pile with heavy anticorrosion coating will be utilized in the project.
* STEP refers to special assistance terms for promoting the visibility of Japanese aid through a transfer of outstanding Japanese technology and expertise to developing nations. The main contract is Japan tied and subcontracting is general untied. The main agreement partner must generally be a Japanese company an overseas subsidiary of a Japanese company or a joint venture between a Japanese company and the borrowing country where the Japanese company is the lead partner although under certain conditions a joint venture between a Japanese company (which is the lead partner of the joint venture) and an affiliated company (as accounted under the equity method) of a Japanese company may be the main agreement partner.
Source: Japan International Cooperation Agency