Plans on course to establish Lake Region Economic Bloc bank

74
Governors from the Lake Region Economic Bloc(LREB) have affirmed that plans to establish a regional bank are on course
Governors from the Lake Region Economic Bloc (LREB)have affirmed that plans to establish a regional bank are on course

Governors from the Lake Region Economic Bloc, which brings together fourteen Counties, have resolved to double their efforts towards the establishment of a regional bank for the Bloc, with each County required to contribute Kshs 200 million. County Assembly speakers from the Counties had earlier voiced their displeasure with the process of the bank’s establishment.

Speaking during to the press during the LREB summit held in Nandi, the Governors led by Kakamega Governor Wycliffe Oparanya said plans to set up the bank are on course. The financial outlay for the member Counties towards the project is Kshs 1.4 billion in the 2018/2019 financial year. The Governors also agreed to work together with Members of County Assemblies in the ratification process of the LREB Bill 2018.

Concerning the issue of border boundaries, the Governors affirmed that they’ll embrace peace and reconciliation efforts in the region and that’s why they held a peace and reconciliation meeting with elders form five Counties-Nandi, Kericho, Bomet, Kisumu and Kakamega-to deliberate on proper ways of enhancing cohesion along the County borders.

Furthermore, they said they’ll continue holding discussions concerning the revival of the sugar sector and have directed the Bloc’s agriculture pillar authority to consider the issues which have popped up in the sector.