World Bank reveals new $12bln loan for Kenya

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The bank, which is now Kenya’s single largest lender, has mobilised the funds through its sister funding agencies as loans and equity investments

Staff Writer, The East African

November 21, 2023

KENYA FINANCIAL SERVICES

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The World Bank Group has revealed a new $12 billion (Ksh1.8 trillion) loan package for Kenya expected to be disbursed over the next three years beginning July 2024, in what it says will support the journey to become an “upper-middle-income country by 2030”.

The bank, which is now Kenya’s single largest lender, has mobilised the funds through its sister funding agencies as loans and equity investments into Kenyan firms, in a major relief to the country that is facing a dollar crisis.

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