The value of loans tapped by Kenya from the World Bank’s concessional International Development Association (IDA) fund dipped to a four-year low in the 12 months to June 2024, new disclosures showed, pushing the country down two places to the sixth-largest borrower for the period.
The IDA provides interest-free loans and grants to governments in the world's poorest countries. IDA's lending terms are concessional, meaning that credits have low or zero interest charges and repayments are spread out over 30 to 40 years.
