A Bill will be introduced in the Senate seeking to set up a special fund to finance development of industries in all the 47 counties to generate jobs and lift people out of poverty.
Sponsored by Nyandarua Senator Muriuki Karue, the Bill proposes to create County Industrial Development Fund in which donors and the National Government will avail funds for industrial undertakings in the counties.
Through the fund, counties will be encouraged and assisted to establish industries. Under the Bill, the fund will be managed by the County Industrial Development Board, which will receive applications from county governments for financing of county industrial projects. The board is charged with the mandate of helping county government develop viable projects.
Among the projects the board can consider include those for processing, value-addition and manufacturing goods that have the potential to create employment in the county. The Bill also creates County Industrial Development Committee headed by respective elected senators and whose membership includes nominated senators in the county, MPs, Governor, Speaker of the County Assembly and a representative of the National Government. The committee will spearhead industrialisation in the county by selecting priority projects. It will consider project proposals from constituencies, county executives and private investors. Approved projects will be submitted to the county executive for implementation. Also in the committee is the county executive committee member responsible for Industrialisation and chairperson of the County Assembly’s committee responsible for industrialization. The committee is required to meet at least two times in a year.