The planned Lake Region Economic Block (LREB) Bank will have its branches decentralized to Wards to help residents’ access loans and do business.
The Council of Governors chairman Wycliffe Oparanya has said.
Oparanya who is also the Kakamega Governor said the bank will also help to revamp agriculture especially the ailing sugar sector.
He added that the bloc will spur economic r development.
The CoG chair was speaking at Katakwa Secondary School during the Anglican Church of Kenya Katakwa Diocese 28th anniversary celebrations on Sunday.
He was flanked by Busia Governor Sospeter Ojaamong.
Oparanya admitted that devolution has been facing numerous challenges with piecemeal disbursement of counties equitable share from the National Treasury.
“Counties last received their share in February with those for March April and May not yet send, this has retarded development,” he said.
Busia Governor Sospeter Ojaamong said the Governors settled on Oparanya as their chair to guard devolution jealously.
Ojaamong said he has faith the chair will be re-elected next year owing to his excellent performance.
“Devolution cannot be managed by Senators or Members of parliament but by a Governor who knows the plight the governor’s face from anxious residents. The residents expect the immediate implementation of their projects but delays to disburse such funds leads to delays in their implementation,” he said.