World Bank, IMF loans more than double to a record 43.3pc of foreign credit

The share of loans from the World Bank and the International Monetary Fund (IMF) more than doubled hitting a record of 43.3 percent of foreign loans, strengthening the hands of the two institutions in influencing economic policy in Kenya.

Loans to the two Bretton Wood’s institution has increased from Sh654 billion in June 2019 to Sh2.2 trillion in June, Treasury documents reveal, as Chinese continue to cutback.