The European Union is considering investing at least $200 million (Sh20 billion) on Mombasa Port projects including modernisation of berths.

The European Investment Bank (EIB) has already received a request for funding from the Kenya Ports Authority (KPA), which is being processed as a loan, while a grant is also in the pipeline.

TradeMark East Africa (TMEA) country director Ahmed Farah said although a final decision had not been reached, there are high level negotiations going on and was optimistic the funding will come through.

Read the full article in Daily Nation