K
Originally published by Kenyanstop
February 17, 2026
3h ago
Blow to Ruto as World Bank Slashes Funding for Key Project
World Bank says that commercial lenders are now expected to contribute Ksh46.45 billion ($360 million), down from an earlier target of Ksh116.12 billion ($900 million) under the proposed financing structure...
✨ Key Highlights
The World Bank has significantly cut its anticipated private commercial financing for Kenya's Affordable Housing Project by nearly two-thirds, reducing the target from $900 million to $360 million. This adjustment reduces the overall funding package the World Bank is helping assemble for the program from $1.35 billion to approximately $910.3 million.
- Private commercial financing target reduced from Ksh116.12 billion ($900 million) to Ksh46.45 billion ($360 million).
- The World Bank increased its concessional support for the program to Ksh61.29 billion ($475 million) from Ksh48.38 billion ($375 million).
- The total funding package is now estimated at Ksh117.34 billion ($910.3 million), down from an initial Ksh174.18 billion ($1.35 billion).
- The World Bank Board is tentatively scheduled to approve the revised proposal on March 19.
- President William Ruto's administration prioritizes this program for housing development and land reforms.
Continue Reading
Read the complete article from Kenyans
Advertisement
Related News
Advertisement