24 Hrs
Source:
بوابة الشروق
Kenya Plans $450M Loan from World Bank
Kenya has attempted to secure approximately $450 million from the World Bank as emergency funding to mitigate the economic fallout from the Iran conflict and to address potential climate shocks. The bank aims to provide this financing through a flexible mechanism that allows for the reallocation of some existing projects, with the goal of supporting the government without taking on new loans, especially given financial pressures such as rising debt payments and accumulated arrears. The funding is expected to be disbursed by October 2026. This measure is part of the efforts by many countries to confront economic shocks and food security challenges, as Kenya's economic growth slows to 4.3% this year due to the impacts of the war and the El Niño phenomenon.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)