The World Bank Group has scheduled 157.7 billion shillings in new financing for Kenya in the current fiscal year ending June 30, a 39.3 billion cut from the 197 billion previously anticipated by the National Treasury. According to a revised World Bank plan, the new funding to Kenya will be approved on April 30.
Central Bank Governor Kamau Thugge stated in February that Kenya expected a fresh 197 billion shillings financing from the World Bank in March or April of this year, implying that the revised World Bank funding is significantly lower than Kenya had anticipated.
According to the World Bank, the new funding for Kenya will come from its Development Policy Financing (DPF) programme and will be used to promote public finance efficiency, equity, and transparency. The funds will also help Kenya's labour market become more competitive and promote climate action.
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