Industry: Real estate Region: Kenya Transaction price: $1 million Transaction method: equity financing
Introduction to the
Project objectives: To improve access to basic services and security of ownership in participating urban informal settlements, and to strengthen Kenya's institutional capacity to improve slums.
details
Component 1: Comprehensive settlement upgrade.
The second Informal settlements improvement project in Kenya draws on lessons learned from the previous project by combining term formalization and infrastructure in an integrated upgrade approach.
Subcomponent 1.1: Tenure formalization. This component will fund a range of activities needed to normalize access for people living on uncontested public lands.
Sub-component 1.2: Infrastructure upgrade. This sub-component will provide funding for feasibility studies, detailed engineering designs, tender documents and projects that are a priority for the settled population.
Component 2: Socio-economic inclusion planning. This component will fund community development plans to improve social and economic resilience, given the expected impact of the pandemic and the high risk of other shocks and pressures on informal settlements. Residents of informal settlements are forced to manage a variety of risks on a daily basis. Therefore, a participatory approach will be used to develop community development plans that involve residents in assessing and responding to multiple risks.
Component 3: Improving institutional capacity development in slums. This component will provide funding for institutional and policy development at the national and county levels. The starting point of the project is to evaluate national slum upgrading and prevention policies to support their implementation. The component will also provide funding for the development of national and county-specific slum upgrading and prevention strategies. These strategies will identify measures to ensure compliance with the principles of climate adaptation, such as ensuring that people living in environmentally hazardous areas are relocated. These county-specific strategies will be incorporated into CIDPs as an annex to attract county funding.
Component 4: Project management and coordination. This component will fund national Project coordination teams and Activity Coordination teams (CPCTs) for county projects involving national and county project management and coordination, including planning, surveying, engineering, trust (financial management and procurement), safeguards compliance and monitoring, monitoring and evaluation, communications and community development.