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.
The funds will go towards strengthening the national health system to effectively respond to the pandemic, build economic resilience, and ensure a quick recovery of the economy.
"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.
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.
