Ruto urges MPs to fast-track creation new fund for infrastructure expansion
President William Ruto has revealed the government’s plan to introduce two critical funds, including an infrastructure fund to drive the country’s development agenda while tackling the debt crisis.
As a matter of fact, the President’s sentiments coincide with the arrival of a team from the International Monetary Fund (IMF), who recently jetted to the country for talks with the government for another supported initiative.
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Speaking on Sunday, October 5, 2025, during a church service in Meru County, Ruto said that he had already engaged all Members of Parliament (MPs) and tasked them with preparing legislation to establish an Infrastructure Fund and a Sovereign Wealth Fund, to anchor the nation’s long-term economic stability.
“I have spoken to all MPs to come up with two legislations, including an Infrastructure Fund to build dams. If it costs us Ksh600 billion, so be it,” he said.
Also watch: Willis Otieno questions Kenya’s rising debt.
“In the three years, we have laid the foundation. What we have done in three years is good, but not enough. We need to raise our standards. We have dealt with average for too long. It is time for us to elevate our game to take this country to the next level,” the head of state added.
Ruto argued that the country is punching below its potential due to overreliance on external borrowings.
The president detailed that an infrastructure fund will be key to filling the gap in Kenya’s development agenda.
“We need 10,000 megawatts of electricity. We only have 2,300 megawatts. We must move to the next level,” the president asserted.
On the other hand, Ruto explained that the Sovereign Wealth Fund (SWF) will be designed to manage proceeds from state assets and privatisation, which will allow the government to invest in high-return projects.
“The MPs have agreed with me. We have developed a privatisation programme and a monetisation programme so that we can change our country from a third world to a first world, like South Korea and Singapore,” he argued.
SWF was first introduced through a Bill in 2019 during former President Uhuru Kenyatta’s tenure. The Bill proposed the creation of a fund to manage surplus revenue from state-owned enterprises. However, the proposed legislation did not sail through Parliament.
But now the Head of State is saying the key focus will be on financing key public projects while reducing the over-reliance on public borrowing.
