Posted 4/2/2024, 3:29:12 PM
World Bank Approves $1.2 Billion Budget Aid for Kenya, Lower Than Expected But Providing Fiscal Relief
- World Bank to approve $1.2 billion budget financing for Kenya by end of April, less than the $1.5 billion anticipated
- Funds to help Kenya cut reliance on commercial debt and plug budget deficit
- Disbursement follows support from IMF and other lenders as Kenya faces tight credit markets
- Kenya took steps like tightened fiscal policy to secure financing
- Money provides budget relief as revenue collection lags target
