[Elvis Ogina, Standard]The World Bank leads the pack of foreign creditors that will help Kenya finance its Sh3.6 trillion budget in the Financial Year (FY) 2021/22, reports from the National Treasury shows. The second highest financier will be the African Development Bank (AfDB) that is projected to give the country Sh50 billion. Take a surveyThe third highest bilateral lender is France, Sh18.9 billion, Italy (Sh12.5 billion), Germany, Sh8.2 billion, and Spain, Sh2.9 billion. In total, the country is expected to get Sh319.2 billion from external lenders. During this period, Treasury estimates it will receive external loans valued at about Sh904.7 billion.

Source: Standard Digital May 17, 2021 00:00 UTC