World Bank gives $750 million budgetary support to Kenya - Premium Times Nigeria

For the first time in years, the World Bank is putting cash straight into the treasury to be used at the discretion of the government, a source with knowledge of the issue said on Thursday in Nairobi.

“Measures supported by this … are expected to benefit ordinary Kenyans through better targeting of agricultural subsidies to reach low-income farmers, … increasing availability of affordable housing,” Felipe Jaramillo, World Bank Country Director for Kenya, said. The loan, which comes under the bank’s Development Policy Operations, is designed to support the government’s policy and institutional reforms and help make economic growth more inclusive.

Kenya raised $2.1 billion in a sovereign bond this month, but some critics have expressed concerns over the country’s growing debt burden.

Why not just put the money into use than give this people?

Better! Not naija

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