World Bank announces $12b financing for 2024-2026

The World Bank has pledged to support Kenya's development agenda, with a 12 billion dollar financing or roughly 1.8 trillion shillings. The funding which is subject to approval of the World Bank Executive Directors, will be implemented over the next three years. Kenya is now in pole position to access about 2 billion US dollars in concessional financing each year. The package from the Bretton Woods Institution, comprises the resources Kenya currently has available from International Development Association, International Bank for Reconstruction and Development, International Finance Corporation and Multilateral Investment Guarantee Agency. The World Bank reiterated its commitment to supporting the country in its quest to reach upper middle income status by 2030. To this end, Kenya is seeking new investments in sectors such as energy, health, transport, and water.