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Originally published by Nation Business
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business
April 17, 2026
5h ago

Kenya requests World Bank funds to cushion Iran war shocks

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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