National Infrastructure Fund (NIF) and Infrastructure Bonds Financing Strategy

planned and ongoing

The National Treasury of Kenya is implementing a dual-track financing strategy to address the country's infrastructure deficit. This involves gradually shifting long-term mega-projects to the newly established National Infrastructure Fund (NIF), which leverages Public-Private Partnerships (PPPs) and asset-backed financing, while continuing to use domestic Infrastructure Bonds to manage immediate liquidity and debt rollovers. Key projects under the NIF include the KES 150 billion upgrade of Jomo Kenyatta International Airport and the extension of the Standard Gauge Railway to the Ugandan border. The strategy aims to reduce reliance on costly sovereign bonds and manage fiscal risks.