Kenya seeks a fresh $750 million loan from the World Bank
Keith Hansen, the World Bank Country Director for Kenya, Rwanda, Somalia and Uganda speaking on December 6, 2022 in Nairobi. Kenya is seeking a $750 million concessional loan from the World Bank. PHOTO | DENNIS ONSONGO | NMG
Kenya is in talks with the World Bank Group for a fresh $750 million (Ksh92.1 billion) concessional loan to be secured before the end of June next year.
This will be Kenya’s fifth loan under the World Bank’s Development Policy Operation (DPO) framework, which has seen the country access $3.25 billion (Sh399 billion at the present exchange rate) from the Bretton Woods institution. The loan will be part of the Ksh280.7 billion ($2.3 billion) earmarked for external borrowing in the current financial year.
