The World Bank will give $1 billion to Kenya

Nothing was done to shield Kenya from increased external debt after the country's debt repayment rating was downgraded last week. As Kenya is expected to receive $1 billion (Sh129 billion) in budgetary support in June, the World Bank Group recently approved an increase of Sh32 billion in Kenya's loan request. Kenya will receive additional resources through the Development Policy Operations (DPO) facility distribution to help close the budget deficit in the fiscal year 2022–23, which runs from June to June. "The program development objective is to enhance sustainable, inclusive and green growth by creating fiscal space in a sustainable manner, increasing competitiveness to boost agricultural exports, and improving governance to facilitate inclusive private sector-led development," the World Bank states.