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What Kenya is doing to secure World Bank billions
Cabinet Secretary for National Treasury and Economic Planning Prof Njuguna Ndung'u before the Committee on County Public Investments and Special Funds at KICC, Nairobi on April 24, 2023. PHOTO | DENNIS ONSONGO | NMG
Last week, the World Bank Group approved the disbursement of Sh138.6 billion ($1 billion) under its development policy operations a week after the International Monetary Fund (IMF) staff reached an agreement that will see the wiring of Sh56.8 billion ($410 million) to Nairobi.
The World Bank facility is the fifth such instalment in as many years while the IMF disbursement is part of a wider Sh487.9 billion ($3.52 billion) multi-year programme that has since been extended by 10 months to April 2025.
