Formation of Regional Bloc is on the right course, Governor Nyong’o assures.

 Kisumu Governor Prof. Anyang Nyong'o at his office yeaterday.He says the formation of Lake Region Economic Bloc is on the right course-Photo Courtesy.

By Dickson Odhiambo

 July 3, 2018.

Formation of Regional Bloc is on the right course, Governor Nyong’o assures.

THE Formation of the Lake Region Economic Bloc is on the right course, Kisumu Governor Prof. Peter Anyang’ Nyong’o has said.

Nyong’o says Kisumu County is fully committed for the formation of the bloc which comprise of 14 counties in the larger West Kenya region.

Addressing the press after holding his Cabinet meeting at his office yesterday, Nyong’o said already the county Assembly of Kisumu has approved the remaining allocation of shs 100 million that Kisumu County was to pay towards the formation of a regional Bank under the bloc.

Nyong’o says Kisumu County had paid sh 100 million earlier towards the formation of the regional Bank.

Each of the 14 counties is to pay shs 200million towards the formation of the regional bank and the deadline for the payment is October this year. This will be a total of shs 2.8 billion that will be injected for the formation of the regional bank.

Prof Nyong’o says what has now remain is the signing of documents that will legalize the formation of the bloc.

He says after the 14 Governors signed the document, their county assemblies will have to ratify the document for the formation of the bloc.

Nyong’o adds that so long as six counties out of 14 will sign and ratify the documents through their County assemblies then it will be okay for the regional bloc to be formed.

“We are at the advance stage of the formation of the Lake Regional Economic Bloc and only signing of document legalizing its formation is what is to be done then the 14 County assemblies will then ratify its formation,” Nyong’o says.

The Lake Region Economic Bloc {LREB} is a conglomerate of fourteen counties which have integrated for purposes of socio-economic development and regional prosperity.

The 14 Counties under the bloc include Kisumu, Siaya, Homa Bay, Migori, Kisii, Nyamira, Kericho, Nandi, Bomet and Trans Nzoia. Others are Vihiga, Kakamega,Bungoma and Busia.

The 14 Counties have similar ecological zones and natural resources; they have analogous cultural histories that date back to historical migrations and trading routes.

A partnership between the counties is both essential and timely and creates a practical framework through which county government efforts can be pooled to harness the abundant natural resources, build on existing strengths and address challenges.

LREB’s economic Blueprint was born out of the understanding that strategic connections between counties with shared interest seated in a desire for mutual benefit can be an effective intelligent means of increasing the possibility of creating notable development impact across several counties.

It has a vision of being a world class bloc in promotion of sustainable, equitable socio-economic development for a better life while its mission is to achieve sustainable development through coordination, promotion, resource mobilization, innovation and enhancement of equitable economic integration in the Lake region.

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