Kenya is set to receive Ksh85.7 billion from World Bank under its Development Policy Operation (DPO) programme. The money is to help Kenya to accelerate economic recovery from the Covid-19 crisis.
In a statement on Wednesday, the bank said the money will also help strengthen the country’s fiscal sustainability through reforms that contribute to greater transparency and the fight against corruption.
“The DPO is the second in a two-part series of development operations initiated in 2020 that provides low-cost budget financing along with support to key policy and institutional reforms,” the lender said.
World Bank Country Director for Kenya, Keith Hansen, lauded President Uhuru Kenyatta-led government saying it has made everything possible to ensure the economy remains stable following the disruption occasioned by the Covid-19 pandemic.
“The Government of Kenya has maintained the momentum to make critical reforms progress despite the disruption caused by the pandemic,” Hansen said.
Further, Hansen said World Bank was ready to help Kenya to achieve its inclusive and green development.
“The World Bank, through the DPO instrument, is pleased to support these efforts which are positioning Kenya to sustain its strong economic growth performance and steering it towards inclusive and green development,” he added.
