World Bank approves Sh75b loan to boost Big Four agenda : The Standard

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The World Bank Board of Directors has approved a US$750 million (Ksh75.9 billion) international development association (ida) credit for Kenya, in the latest move by the global lender to channel funds to the East Africa State.This comes amid concerns over the country’s ballooning public debt which crossed the Ksh5.1 trillion (US$50.4 billion) mark in September 2018, with possibilities of going Ksh5.6 trillion (US$55.4 billion by close of the year. The loan, according to World Bank is meant.

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which had net debt of 4.08 billion euros at the end of last year, can avoid asking its 300-odd existing senior lenders to approve new term loans. It can also draw on its cash pile – some 560 million.

 · Over the medium-term, decisive implementation of “The Big Four” Plan, should result in faster economic growth of at least 7.0 percent per year, which in turn should support job creation and.

Recently, the World Bank approved a Sh75.9 billion loan to Kenya which will majorly finance the government’s big four agenda. The report by World Bank revealed that it is for the first-time putting cash straight into the treasury to be used at the discretion of the government.

The World Bank Board of Directors today approved Sh75.9 billion Government’s loan to help curb poverty and helps Kenya achieve its Vision 2030 objectives. The operation through International Development Association (IDA) credit will lend support to the government’s "Big Four" agenda which..

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