The United Nations Office for Project Services (UNOPS)
Landmark 100,000 green affordable homes initiative for Kenya moves forward
UNOPS agreement with the government of Kenya has taken a major step forward this week, following further details of the project announced by Executive Director Grete Faremo in New York.
As part of the agreement, under UNOPS Social Impact Investment Initiative (S3I), the organization and its partners will seek to attract $647 million worth of investment to deliver at least 100,000 affordable and sustainable homes across the country.
The project will provide significant employment opportunities for local communities nationwide and help alleviate the housing crisis in Kenya.
The agreement is a major milestone in UNOPS commitment to fostering innovative financing for the Sustainable Development Goals (SDGs), and will help the government of Kenya open access to sustainable, affordable and environmentally sound housing for its citizens.
Thousands of people in Kenya will be able to benefit from sustainable and affordable homes.
“By reducing the investment risks of development activities, we are helping to bring about new partnerships between the private and public sectors. The knock-on effect means unlocking new opportunities and providing jobs for local communities, which all helps drive progress towards the SDGs,” she added.
The 100,000 houses are to be constructed using green technologies and energy-efficient solar rooftops, while the implementation work will include local equipment, skills and expertise. The needs of local communities will be a key priority of the project, through the inclusion of public facilities including children’s playgrounds, schools and community halls.
In a previous statement on the project, President Uhuru Kenyatta said: “We are very excited about this project [with UNOPS] and we look forward to unlocking similar partnerships that will allow us to fulfil our duties as leaders and pave the way for adequate, decent, and affordable housing for Kenyans.”
UNOPS S3I seeks to de-risk infrastructure investment projects in an effort to help attract financing from the private sector to national development agendas. Projects selected are subjected to a rigorous due diligence process that will ensure a positive environmental, social and economic impact, with a financial return.
About UNOPS Social Impact Investment Initiative (S3I)
UNOPS S3i seeks to de-risk and structure infrastructure investment projects in an effort to help attract financing from the private sector to national development agendas. Projects selected are subject to a rigorous and comprehensive due diligence process that will ensure positive environmental, social and economic impacts, with financial returns for private sector investors.