World Bank approves $750m budget support for Kenya

To support the East African nation’s economic recovery from the coronavirus pandemic.
Image: REUTERS/Thomas Mukoya

The World Bank approved $750 million in funding to Kenya to support the East African nation’s economic recovery from the coronavirus pandemic.

The development policy operation will support measures to improve fiscal and debt sustainability through greater transparency and efficiency in government spending, according to an emailed statement from the lender. Reforms, including the introduction of an electronic procurement platform, could yield savings of as much as $2.6 billion.

© 2021 Bloomberg
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