The World Bank has approved a KSh97 billion ($750 million) loan for Kenya to support wide-ranging reforms aimed at strengthening governance, improving public financial management, expanding social protection, and enhancing anti-corruption efforts.<\/p>\n
The financing, approved under the Kenya Fiscal Sustainability and Resilient Growth Development Policy Operation<\/strong>, is expected to bolster the government’s efforts to improve accountability, promote fiscal sustainability, and create a more conducive environment for economic growth and investment.<\/p>\n According to a statement issued by the World Bank on Tuesday, June 30, 2026, the funding package comprises KSh44 billion from the International Bank for Reconstruction and Development (IBRD) and KSh53 billion in concessional financing from the International Development Association (IDA).<\/p>\n The World Bank said the operation will back reforms designed to strengthen transparency and accountability across government institutions while improving the efficiency of public spending.<\/p>\n Among the key measures supported by the loan is the implementation of the Conflict of Interest Act and the 2026 Regulations, which are intended to curb corruption and prevent conflicts of interest within the public service.<\/p>\n The programme also seeks to improve the management of public resources by requiring all government ministries, departments and agencies to transact through the Treasury Single Account, a move expected to strengthen oversight of public funds.<\/p>\n In addition, the reforms will accelerate the rollout of an electronic government procurement system aimed at increasing transparency in public procurement and reducing opportunities for collusion and financial mismanagement.<\/p>\n Beyond governance reforms, the funding will also support the expansion of social protection programmes targeting vulnerable groups.<\/p>\n The World Bank said the initiative will strengthen support for refugees and host communities while enhancing the government’s capacity to provide assistance to citizens in need.<\/p>\n Commenting on the approval, World Bank Division Director for Kenya Qimiao Fan<\/span><\/span> said the operation is an important step towards improving the country’s fiscal sustainability.<\/p>\n Fan noted that the reforms are expected to reduce wasteful public expenditure, strengthen government institutions, and lay the groundwork for more resilient and inclusive economic growth.<\/p>\n The World Bank believes that by improving governance, increasing transparency, and enhancing the management of public finances, the programme will help create a more stable business environment capable of attracting investment and generating employment opportunities for Kenyans.<\/p>\n","protected":false},"excerpt":{"rendered":" The World Bank has approved a KSh97 billion ($750 million) loan for Kenya to support wide-ranging reforms aimed at strengthening governance, improving public financial management, expanding social protection, and enhancing anti-corruption efforts. The financing, approved under the Kenya Fiscal Sustainability and Resilient Growth Development Policy Operation, is expected to bolster the government’s efforts to improve […]<\/p>\n","protected":false},"author":6069,"featured_media":3971,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[138280,310],"tags":[138467,138643],"class_list":["post-236304","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-entertainment","tag-president-william-ruto-news","tag-world-bank-news"],"yoast_head":"\nFocus on Governance and Accountability<\/strong><\/span><\/h3>\n
Expanding Social Protection<\/strong><\/span><\/h3>\n
Boosting Sustainable Economic Growth<\/strong><\/span><\/h3>\n