The National Treasury and Economic Planning Cabinet Secretary John Mbadi has signed a Ksh9 billion loan facility for Kenya.

Mbadi, who is in the US, secured the loan facility from the OPEC Fund fund on Tuesday, April 22, 2025.

In a statement on Wednesday, April 23, 2025, said the funds will be used to support the implementation of Vision 2030 and the Bottom-up Economic Transformation Agenda (BETA) programmes.

“Signed a EUR 60 million financial agreement with OPEC Fund President Dr. Abdulhamid Alkhalifa for the Economic Transformation & Green Recovery Support Programme. The policy-based loan will support the implementation of Vision 2030 & BETA programmes,” Mbadi said.

Projects under this partnership include Kenyatta National Hospital (KNH) Burns & Paediatrics Centre, rural electrification in five regions, Bura Irrigation Scheme, Kenya Electricity Expansion and Urban Roads Phase 1 Project in Wajir.

US tour

The deal comes hours after Mbadi, accompanied by PS Chris Kiptoo, met Ndiamé Diop, the new World Bank VP for Eastern & Southern Africa, who will be based in Nairobi.

Mbadi welcomed the Bank’s decision to establish its regional hub in Nairobi—calling it a strong vote of confidence in Kenya’s leadership and partnership. He reaffirmed Kenya’s commitment to work closely with the World Bank to drive inclusive growth, expand opportunity, and uplift the lives of Kenyans.

Mbadi and Kiptoo are in the US for the 2025 IMF/World Bank Spring Meetings.