Treasury wants citizens views to merge 3 financial agencies
Treasury CS Ukur Yattani photos talking about Kenya Development Bank
Treasury CS Ukur Yatani on merging financial state agencies. FILE


Treasury wants public views on the proposed consolidation of three state enterprises to form the Kenya Development Bank. 


Cabinet Secretary Ukur Yatani asks citizens to give their views on the plan to collapse the Tourism Finance Corporation, Industrial and Commercial Development Corporation and IDB Capital Limited. 


Kenyans have until June 19 to give their views on the draft Kenya Development Bank Bill, 2020, which says that the bank shall be the successor to the three corporations.


The three state agencies exist with the aim of driving development and tourism in the country.


They have individual staff structures which are set to be frightened by the union. 


 The bank, the Bill states, will also provide venture capital, seed capital and risk capital for industries. 


Companies will be supported to enforce their undertakings, works, projects or enterprises whether public or private. 


KDB will, however, not be the single source of finance in respect of any undertaking or enterprise. 


The Bill says KDB will also provide venture capital, seed capital and risk capital for industries. 

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