Some regional blocs had already started aggressive stimulus economic projects to leverage their economies of scale. SEE ALSO: Institute wants Sh50b revolving fund for housing recoveryThe legislative framework for the regional economic blocs is expected to address the nature of instruments of co-operation, the powers of the regional economic blocs and their financing models. The policy guideline will also address issues of shareholding or ownership of regional blocs’ projects and dispute resolution mechanisms to be applied in arbitrating disputes. "It is after the draft Regional Blocs Bill has been tabled and ratified by Parliament that we shall now be allowed to go ahead and contribute monies toward joint regional bloc projects," said Mr Oparanya. SEE ALSO: Murkomen rejects new Senate post, tells Jubilee to keep itThe country's regional economic blocs include LREB (14 counties), the North Rift Economic Bloc (seven counties) and the Central Kenya Economic Bloc (10 counties).

Source: Standard Digital May 28, 2020 15:21 UTC