The government of South Korea has offered Kenya a $6 million (Sh685.86 million) grant towards the Konza City project’s transportation infrastructure, planning, and security installations.
Starting in the current fiscal year, the money will be given in three equal yearly instalments of $2 million (Sh228.62 million) and will be used to build smart parking facilities, digital signs, and electric car infrastructure at the Technopolis, among other things.
The Economic Innovation Partnership Program.
The Korea Trade-Investment Promotion Agency (KOTRA) and the Konza Technopolis Development Authority will conduct the support initiative, dubbed the Economic Innovation Partnership Program (EIPP).
This comes after the signing of a three-year memorandum of understanding between the South Korean government’s Ministry of Economy and Finance (MOEF) and Kenya’s ICT ministry. The agreement covers policy dialogue, cooperative research, and expert meetings.
“Under this EIPP, consultation based on Korea’s ICT infrastructure and urban development experience is expected to significantly contribute to formulating a smart city development strategy,” said ICT principal secretary Jerome Ochieng’
“Furthermore, the consultations will result in the formulation of strategies that meet Konza Technopolis’ unique conditions and support its growth into an innovation hub for Kenya and the rest of Africa.”