The Kenya Kwanza Administration on Wednesday December 4, 2024 launched 1236 Equalization Fund Projects.
Treasury Cabinet Secretary John Mbadi who hosted the Prime Cabinet Secretary Musalia Mudavadi at KICC for the Official Launch, stated that 1236 Equalization Fund Projects are spread in 34 Counties.
The Equalization Fund, established under Article 204(1) of the Constitution of Kenya 2010 requires that 0.5% of all revenue collected by the National Government each year, calculated on the basis of the most recent audited revenue received as approved by the National Assembly, to be paid into the Fund.
The Fund is only used to provide basic services such as water, roads, health facilities and electricity to marginalized areas to the extent necessary to bring the quality of those services in those areas to the level generally enjoyed by the rest of the nation.
“I commended the the Equalization Fund Advisory Board under the Chairmanship of Ambassador Mahboub and the secretariat led by the CEO Mr. Guyo for the tremendous work they have done so far on the implementation of the Equalization Fund,” stated Mbadi.
The event was also graced by Governors and Deputy Governors led by the CoG Chair H.E FCPA Ahmed Abdullahi, MPs, Senators, PSs, Directors, Chair and Board of Equalization Fund, CECMs of different counties among others.
