IMF approves another loan for Kenya.
International monetary Fund, IMF approves another loan for Kenya; The Ksh56 billion is aimed at upscaling the economy of Kenya.
IMF stated,”Kenya’s economy has been resilient despite the worst drought in many decades and a difficult external environment. The funds will continue to support the country address emerging challenges to sustain macroeconomic stability and market confidence, promote growth and advance ongoing reforms.”
Notably, President William stated that he was happy that following a successful COP27 meeting in Egypt, Africa is expected to receive more funds that will help deal with the adverse effects of the climate.
He stated,”This shows that Africa can speak in one voice and contribute to global development and climate action.Strong Kenya-Egypt relations are beneficial for the pursuit of a more united and prosperous Africa. Together with other countries, we will work to end conflict and suffering in the Sudan and across Africa.”
“We will also promote trade and investment and advance climate action to create a better future for Africa’s people. We will seize every opportunity that comes our way to reinforce peace for our shared progress,” he added.