Kenya is set to draw down $865 million (Sh112.2 billion) in new loans from the World Bank and the African Development Bank (AfDB) before the end of the current fiscal year to fund the external financing component of the budget deficit.
National Treasury Cabinet Secretary John Mbadi told Parliament on Wednesday afternoon that he hopes to receive $265 million (Sh34.4 billion) from the AfDB in a week’s time, while the latest loan tranche of $600 million (Sh77.9 billion) from the World Bank is expected before the end of June.
