Nairobi — Kenya will receive a €188 million - Sh21.9 billion - loan from African Development Bank to support its efforts to respond to the COVID-19 pandemic and mitigate the related economic, health and social impacts.
In a statement, the financial institution says the loan follows a request by the Government of Kenya, as part of its COVID-19 Emergency Response intervention, to help contain the scourge.
"We are very pleased to join other development partners in supporting the Government of Kenya's efforts in mitigating the financial impact of the pandemic, especially in terms of the country's expenditure in the health, social and economic sectors.
On Thursday, the World Bank said in a statement that its Board of Directors had approved an Sh4.59 billion International Development Assistance credit to respond to the threat posed by the desert locust outbreak and to strengthen Kenya's system for preparedness.
Treasury Cabinet Secretary Ukur Yatani said the loan is expected to address Kenya's widening budget deficit that has seen the government implement revenue-cutting measures to shield citizens from the negative impact of the coronavirus.
