Kenya in Advanced Talks For Another Multibillion Loan : vima

Kenya in Advanced Talks For Another Multibillion Loan


Kenya in Advanced Talks For Another Multibillion Loan
The Kenyan government is in discussions to secure a Sh82 billion ($750 million) loan from the World Bank before the end of June.
In a statement issued on Wednesday, the National Treasury indicated talks were at an advanced stage having fulfilled part of prerequisite conditions enabling the access of the facility dubbed as the World Bank Development Policy Operations (DPO).
Citizen reports that the facility alluded to earlier in exchequer documents is part of external financing targeted at plugging the 2020/21 budget hole exacerbated by a shortfall in tax revenues.
“Kenyan ministries, departments and agencies (MDAs) have delivered all prior actions for consideration by the World Bank under DPO III,” said the Treasury.

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