The International Monetary Fund approved almost $1 billion for Kenya, saying the East African country had met conditions for continued financing under programs to help reform the economy and confront challenges posed by climate change.
Kenya got a $415 million disbursement under the Extended Fund Facility and Expanded Credit Facility, programs designed to shore up its economy and boost its foreign exchange reserves, following a fifth review. It also got $551 million as part of the Resilience and Sustainability Facility to “support Kenya’s ambitious efforts to build resilience to climate change,” the IMF said in a statement. The disbursements followed the fifth reviews of the programs.
Read More : IMF Grants $1 Billion to Kenya Post Latest Loan Review