Trending
- African Energy 2024: Surging investment, waves of change
- AIM Congress 2025: Competition opens doors for Africa’s top tech innovators
- Zimbabwe rolls out $24M project to reduce use of mercury in gold mines
- Zambia secures $184M IMF support as economic growth set to decline to 1.2 per cent
- Equity enters alliance with ODDO BHF to spur Europe-Africa investments
- Air Tanzania hits turbulence: Can the airline fly back to EU skies?
- Ghana’s President Elect John Mahama Outlines His Economic Blueprint
- AfDB backs “green shares” funding model with $30M AFC equity boost
Browsing: Keith Hansen
- The World Bank has approved a $1.2 billion loan to support policy and institutional reforms to address structural constraints in Kenya’s public finances.
- On climate, the financing will support Kenya’s investments in green public transport systems.
- Kenya’s $1.2 billion DPO facility is funded through a combination of financial instruments
Kenya has received a loan of $1.2 billion ( about KES156 billion) from the World Bank to help the country address short-term fiscal pressures and accelerate green initiatives. The new $1.2 billion Kenya Fiscal Sustainability and Resilient Growth Development Policy Operation (DPO), is the first in a series of three.
According to the multilateral lender, it has been prepared under an improved macroeconomic environment following government action to address the challenges that had overshadowed the economy including tight liquidity pressures, depressed investor confidence and limited capital inflows that had resulted in a rapidly depreciating shilling.
A Development Policy Operation (DPO) is …
- The World Bank recommends three broad policy pathways to achieve inclusive growth and fight poverty.
- These include connecting the poor to economic growth and strengthening households’ resilience to adverse weather shocks.
- The lender also advocates leveraging fiscal policy programs to support poverty reduction objectives.
Kenya’s economic growth holds the promise of lifting millions out of poverty, even amid challenging economic conditions. According to the World Bank, the secret lies in adopting an inclusive growth strategy that not only enhances economic opportunities and productivity for the poorest but also remains steadfast in pursuing long-term developmental objectives.
This vision is captured in the latest World Bank report titled “Kenya Poverty and Equity Assessment (KPEA) 2023 – From Poverty to Prosperity: Making Growth More Inclusive,” which focuses on the years from 2005 to 2021.
The report underscores that while Kenya has made strides in reducing poverty and improving living standards, the …