Posted 11/21/2023, 4:22:16 AM
World Bank Unveils $8.3 Billion Loan Package to Support Kenya's Development Goals
- World Bank reveals new Sh1.8 trillion loan package for Kenya over 3 years starting 2024
- Funds to support Kenya's journey to upper-middle income status by 2030
- Kenya already accessing Sh304 billion annually in concessional financing
- Additional $8.3 billion committed by World Bank, with $4.4 billion available now
- International Finance Corporation providing $1.2 billion in investments
- Loans to support public and private sector projects and cushion risks
- Comes after President Ruto said World Bank & IMF key partners for his plans
- Loans add to Kenya's rising share of external debt from World Bank