President William Ruto on Monday signed the National Infrastructure Fund Bill, 2026, into law, marking what he described as “a turning point in the journey of our nation’s transformation.”
The fund aims to mobilize Sh5 trillion to shift Kenya’s infrastructure financing from a debt-driven model to a sustainable, investment-led approach.
Speaking at the State House, Nairobi, during the signing ceremony, Ruto noted that the initiative fulfills a commitment made in his manifesto.
“Today, we fulfill that promise,” he said, highlighting the fund’s role in addressing Kenya’s growing infrastructure needs.
President William Ruto and other government officials during the signing of the National Infrastructure Bill into law at State House, Nairobi on March 9, 2026 PHOTO/PCSThe bill comes ahead of the Kenya Pipeline Company’s (KPC) IPO trading debut on the Nairobi Securities Exchange, which raised Sh106.3 billion to provide seed capital for the fund.
Ruto emphasized that the fund will prioritize critical projects, including the expansion of the Jomo Kenyatta International Airport, which will receive Sh15-20 billion from the fund.
“We just announced the contract for the expansion of Jomo Kenyatta International Airport…this will be the first major project financed through this new model of financing,” he said.
The President also highlighted the importance of mobilizing domestic capital, citing Kenya’s pension funds as a key resource.
“We have Sh2.81 trillion of Kenyan money that is available from our pensions and other collectives…this is patient money that can be used for our national development,” he said, stressing that the fund will provide long-term, sustainable financing while generating returns for investors.
Ruto highlighted the challenges the fund seeks to solve, including mismatched investment horizons, high cost of capital, and currency exposure from reliance on foreign loans.
“Domestic financing helps eliminate this currency exposure…mobilizing our resources from here will erase the perception penalty,” he explained.
The legislation also establishes strong governance safeguards, including a governing council responsible for strategic oversight, transparency, and accountability.
“Parastatals and government agencies will be run on the same principles as the private sector, if not higher…this is how we are going to change how Kenya delivers on the most end priority programs,” Ruto said.
The President noted that the National Infrastructure Fund follows successful models globally, citing examples from Nigeria, Ghana, India, Canada, the UK, and South Africa.
He acknowledged the support of development finance partners, including the World Bank and International Finance Corporation, in designing the framework.
“The National Infrastructure Fund gives us the opportunity to build the future rather than wait for it…this is the opportunity working together for us to change that, and I will, with a lot of pride, work with you, "he said.
