National Treasury CS Njuguna Ndung'u has revealed that Kenya is eying another Kes 92 million from World Bank to stabilize the economy.
The CS was speaking at the World Bank's Country Partnership Framework launch for 2023-28 in Nairobi, saying they are willing to get $1 billion.
"We have been trying to negotiate this to $1 billion, but World Bank has been adamant," he said.
The appeal for the new facility is coming nine months after the lender gave Kenya a similar amount to help accelerate ongoing inclusive and resilient recovery from the Covid-19 pandemic.
The $750 million approved by World Bank in March was part of the Development Policy Operation(DPO) that intended to help strengthen fiscal sustainability through reforms that contribute to greater transparency and the fight against corruption.
The DPO is the second in a two-part series of development operations initiated in 2020 that provides low-cost budget financing and support to key policy and institutional reforms.
Further, the DPO organizes the multi-sector reforms into fiscal and debt reforms, electricity sector, and public-private partnership reforms and strengthens the governance framework of Kenya’s natural and human capital.
