This archive report was first published on 6 November 2019.
On November 4, 2019, US Ambassador to Kenya Kyle McCarter announced a Sh40 billion concessionary credit line for American and Kenyan companies seeking to boost exports to the US.
The fund, managed by the US Export-Import Bank, is part of the Trump administration's efforts to deepen trade ties with Nairobi and establish a strong relationship between the two countries.
Speaking at the American Chamber of Commerce Business Summit at the UN Complex in Gigiri, Nairobi, McCarter emphasized the US commitment to fair trade and commercial ties with Kenya, promising to provide aid efficiently and effectively.
President Uhuru Kenyatta welcomed the initiative, assuring the US of stronger bilateral ties and protection of American business interests in Kenya.
He also invited American investors to invest in Kenya's Big Four projects, including manufacturing, affordable housing, universal healthcare, and food security, which aim to create at least 6.5 million jobs over the next five years.
