World Bank Approves KSh75bn Kenya Loan for Budgetary Support

World Bank Approves KSh75bn Kenya Loan for Budgetary Support

Farmer planting barley in Kenya I David Jones - Crop Nuts

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.

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