Ruto Seeks Ksh58 Billion Emergency Loan from World Bank

CS Mbadi had earlier indicated that the government plans to cut local borrowing, freeing up more loans for Kenyans in the domestic market...

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The Kenyan government is seeking approximately Ksh58 billion (about $450 million) in emergency financing from the World Bank.

The funds, expected by October, aim to buffer the economy against the impact of the U.S.-Israel war on Iran and potential weather shocks from an anticipated El Niño.
President William Ruto's administration is finalizing a Contingent Emergency Response Project (CERP) for this financing.
This emergency loan is crucial as Kenya faces rising global oil prices, increased transport and manufacturing costs, and is vulnerable to weather-related disruptions.

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