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    MARKETS

    World Bank Approves KSh75bn Kenya Loan for Budgetary Support

    David IndejeBy David Indeje2019-05-30Updated:2019-05-301 Comment1 Min Read
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    Employment in the sector posted its first rise in three months, with the number of workers rising in the agriculture, construction, and services sectors.
    Farmer planting barley in Kenya I David Jones - Crop Nuts
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    The World Bank has approved Ksh750 billion loan to Kenya that focused mainly on support for agriculture and housing, the bank said in a statement.

    “Measures supported by this operation are expected to benefit ordinary Kenyans through better targeting of agricultural subsidies to reach low-income farmers, prosecuting those who engage in fraudulent procurement, increasing the availability of affordable housing, and improving revenue mobilization,” said the World Bank in its approval notice.

    “We expect that this operation will help to reduce bid rigging in government procurement thereby leading to fiscal savings and more resources for developmental purposes,” the World Bank said.

    READ:

    • Kenya Raises KSh210 Billion in New Eurobond to Pay Debt
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    David Indeje
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    In my role as Community Engagement Editor For Khusoko, I care about our audience. engaging them, getting news delivered to them across a variety of platforms, and expanding the diversity of voices on our website.

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