Kenya has applied for a new $750 million (Sh81.75 billion)loan from the World Bank and hopes to receive it at the end of this month or early May. The National Treasury Cabinet Secretary Ukur Yatani revealed this when he held talks with Taufila Nyamadzabo, executive director for the World Bank in Africa on Wednesday. ''Kenya looks forward to a favorable outcome once the request is placed before the Board of Directors at the World Bank in the coming few weeks,'' Yatani said. He pleaded with World Bank to approve the loan request approves preferably by the end of April or early May to enable the country to make the prompt intervention. In May last year, Kenya received $1billion (Sh106 billion) from World Bank to support its budget and cushion the economy from the vagaries of the Covid-19.

Source: The Star April 09, 2021 00:56 UTC