Government-backed Korea Overseas Infrastructure & Urban Development Corp. is in talks with Kenya to build a $1.5bn highway connecting the port city of Mombasa to the capital. The company, also known as KIND, has been undertaking feasibility studies for the nearly 400km highway since November last year, which are scheduled to end next month. KIND was established in 2018 by the Korean government to support global public-private partnerships. Given that the country is classified as being at high risk of debt distress by the International Monetary Fund, Kenya is turning to non-debt measures such as public-private partnerships to finance infrastructure projects.
