Kenya is expected to receive about Sh51.8 billion in emergency financing from the World Bank within six weeks to cushion the economy against mounting risks, according to a source familiar with the matter.
The funding is expected to help address economic pressures linked to the Ebola outbreak in the region, El Niño-related disruptions and elevated energy prices.
The financing would be drawn from Kenya’s undisbursed World Bank portfolio, with such emergency facilities typically capped at 10 per cent of a country’s undisbursed lending.
Kenya’s World Bank project portfolio is valued at more than Sh906 billion, although the final amount will depend on the funds available when the financing framework is finalised.
