Nairobi, May 30, 2024— In a significant financial development, the World Bank has approved a Ksh156 billion (approximately USD1.2 billion) loan for Kenya. The announcement was made on Thursday, May 30, and marks a substantial boost to the country's economic resources.
The funding aims to support Kenya's ongoing economic reforms and recovery efforts, particularly in the wake of challenges posed by global economic conditions and domestic fiscal constraints. The loan is expected to enhance various sectors, including infrastructure, healthcare, and education, contributing to the overall growth and stability of the nation.
The Kenyan government expressed its appreciation for the World Bank's continued support, emphasizing the importance of the funds in driving forward key developmental projects and improving the living standards of its citizens .
As Kenya navigates its economic landscape, this financial assistance from the World Bank will play a crucial role in stabilizing and advancing the country's economic agenda. The impact of this loan will be closely watched, with expectations that it will bring about significant positive changes in the near future.
