Sharp Daily
No Result
View All Result
Sunday, October 26, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

World Bank Approves An Increase In Kenya’s Loan Request By KSh. 32 Billion

Dennis Otsieno by Dennis Otsieno
March 14, 2023
in News
Reading Time: 2 mins read
world-bank

world-bank [Photo/Courtesy]

The downgrading of Kenya’s debt repayment rating last week did little to cushion the country from more external debt. This is after the World Bank Group okayed an increase in Kenya’s loan request by Kshs 32.0 bn. This now means that Kenya will receive Kshs 129.0 bn budgetary support in June.

The disbursement under Development Policy Operations (DPO) facility will provide additional resources to Kenya which will in part plug the budget deficit in the 2022/23 fiscal year to June.

World Bank’s Development Policy Operations financing provides rapidly-disbursing financing to help countries address actual or anticipated development financing requirements.

The loan is expected to be approved late in the current financial year with the published multilateral lender’s board calendar showing no planned meetings with Kenya over the facility through the next three months to May.

RELATEDPOSTS

How public ratings could shift healthcare dynamics in Kenya

September 4, 2025

Why firms are shedding jobs despite survival

June 19, 2025

Read: Debts Repayment Consumes Half Of Revenue In Three Months Of 2022/2023

Flows from the DPO financing which is due before the end of June are expected to partly replenish Kenya’s depleted forex reserves which have been eroded by higher external debt repayments and support for the shilling through hard currency sales by the Central Bank of Kenya.

Treasury Cabinet Secretary Njuguna Ndung’u, speaking at the launch of the World Bank’s Country Partnership Framework for 2023-28 in December said that despite Kenya eyeing USD 750.0 bn at the time, discussions were open to increasing the figure to USD 1.0 bn.

The DPO provides low-cost budget financing along with support to key policy and institutional reforms.

Email your news TIPS to editor@thesharpdaily.com

Previous Post

Ogilvy Africa Ranked Top Ten As Africa’s Most Creative Powerhouse

Next Post

Hustler Fund-Government As Bank, FinTech

Dennis Otsieno

Dennis Otsieno

Related Posts

News

Start Q4 strong with the Cytonn Money Market Fund

October 9, 2025
News

Kenya Q2’ 2025 GDP growth accelerates to 5.0%

October 3, 2025
News

Argentina’s crisis and Kenya’s lessons on political economy and market confidence

September 25, 2025
News

Kenya’s financial system remains stable but faces rising risks

September 25, 2025
News

Where do Kenyan stock returns come from? A napkin framework

September 19, 2025
News

September snapshot: CMMF yields 13.12% as month unfolds

September 5, 2025

LATEST STORIES

Kenya tightens crypto regulations after INTERPOL flags terror-financing scheme

October 24, 2025

Sidian Bank reshapes leadership in strategic transition

October 24, 2025

IRA drafts new regulations to introduce virtual assets insurance in Kenya

October 24, 2025

Understanding Umbrella vs Occupational Retirement Benefits Schemes in Kenya

October 24, 2025

Sovereign Wealth & Infrastructure Funds in Focus

October 24, 2025

CBK turns to gold in bid to diversify reserves and boost stability

October 24, 2025

2024 cooperatives bill seeks to modernize governance and member protection

October 23, 2025

Coca-Cola HBC to acquire 75.0% of CCBA for USD 3.4bn by 2026

October 23, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024