The Tourism industry is set for a major boost after the government announced that it has launched a project to rehabilitate old hotels at the Coast.
Tourism Cabinet Minister Najib Balala said the government is expected to use more than Sh10 billion on the project.
He said the government is in the process of establishing a refurbishment fund that will be used to give old hotels a face-lift,to enable them meet international standards.
Mr Balala said that they will hold talks between his ministry and the African Development Bank, to discuss how they will receive the funds which will be used to resuscitate the ailing industry.
Mr Balala further noted that hotels that apply and qualify for the fund will refund the money with an interest of between five-six per cent, to ensure others benefit from the service.
“We are currently in talks with the bank and we should have some feedback soon. But it is only the old hotels and not new ones that will be privileged to access the funds, once available,” said Balala.
“The credit will be available at six percent interest rate and the older you are, the more you are entitled to approach this fund, so that it can be able to help you,” said Balala.
The CS also urged investors to invest in the region in a bid to create more jobs for the young people, and to boost the economy of the region.
Balala said his ministry has identified 10,000 acres in which investors can build new tourism facilities.
“We have a good product, beach and safari, but innovation is needed. We need to review what we are giving as a product and service to clients,” said Balala, as quoted by The Star.