Work advances on Bomas of Kenya construction project

Blow to Ruto as World Bank Slashes Funding for Key Project

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.

Why Kenya’s informal sector misses out on climate finance

While Kenya's banking sector is increasingly investing in climate finance, with institutions like KCB Group, Standard Chartered Kenya, and Equity Bank reporting significant green loan growth, the vast majority of these funds are inaccessible to Micro, Small and Medium Enterprises (MSMEs) and Jua Kali artisans. This disparity leaves a critical gap in supporting the backbone of Kenya's economy in climate mitigation and adaptation efforts.

Kenya Turns to World Bank for Health Reforms

Kenya is seeking to enhance its digital health infrastructure and reduce maternal deaths by partnering with the World Bank. This initiative is a key focus for President William Ruto's administration.

World Bank Explains Why Kenya Was Chosen for NYOTA Programme

The World Bank has clarified its support for Kenya's National Youth Opportunities Towards Advancement (NYOTA) programme, emphasizing its focus on addressing the country's severe unemployment challenges. County Director Qimiao Fan stated the initiative is crucial for job creation in Kenya.

World Bank Clarifies Viral Reports on NYOTA Programme

The World Bank has refuted an online report claiming it reaffirmed its partnership with the Kenyan government regarding the National Youth Opportunities Towards Advancement (NYOTA) programme. The financial institution stated that the circulating document, dated February 10, is fake and misleading, and no such statement was issued by World Bank Kenya.