International Monetary Fund Approves Three Year Ksh263B Loan to Kenya 

Kenya will receive emergency aid totalling $2.3 to help cover a shortfall in the nation's budget and balance of payments due to the coronavirus pandemic

The International Monetary Fund (IMF) Executives on Thursday approved a $2.4 billion (Ksh263 billion) loan to Kenya.

The International Monetary Fund (IMF) Executives on Thursday approved a $2.4 billion (Ksh263 billion) loan to Kenya under the Extended Fund Facility and Extended Credit Facility.

The new programme will last for three years to support the government’s COVID-19 response.

“The programme will support the next phase of the country’s COVID-19 response and the authorities’ plans for a strong multi-year effort to stabilize and begin reducing debt levels relative to GDP,” Mary Goodman who was representing the IMF said.