Kenya will pay an extra Sh1.9 billion in subscriptions to the African Union (AU) and other international organisations due to the drop in the value of the shilling against world currencies.
The National Assembly’s Finance and National Planning committee heard that the AU and Other International Organisations Subscriptions Fund is set to rise by Sh1.886 billion on account of the shilling drop compared to other hard currencies.
The money has been factored in the Supplementary Estimates I that was tabled in Parliament two weeks ago. The Fund, which is domiciled at the Treasury, covers the payment of international subscriptions made by the government to various international organisations through the different ministries.
All payments made to international bodies are centralised at the National Treasury, with ministries forwarding invoices for their subscriptions.