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Originally published by Nation Businessbusiness
April 17, 2026
5h ago
Kenya requests World Bank funds to cushion Iran war shocks
Kenya is the first larger emerging economy to publicly confirm a formal request to the World Bank...
✨ Key Highlights
Kenya has formally requested financial assistance from the World Bank to mitigate the economic fallout from the recent Iran war, particularly concerning energy imports and rising inflation.
- The request is described as "significant" but no specific figure has been disclosed by Central Bank of Kenya (CBK) Governor Kamau Thugge.
- This request is in addition to ongoing discussions for a budgetary support loan.
- To cushion consumers, President William Ruto signed a law reducing VAT on petroleum products to 8% from 13% for three months.
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