This archive report was first published on 29 June 2020.
Carlos F Jaramillo, the outgoing World Bank country director for Kenya, Rwanda, Somalia, and Uganda, reflected on his tenure in an interview with Julians Amboko.
Published on June 29, 2020, Jaramillo highlighted the COVID-19 response as his greatest accomplishment, citing the $1 billion loan extended to Kenya as the largest debt facility the World Bank has ever provided to the government.
However, Jaramillo expressed regret over leaving the region in the midst of the pandemic, stating that he would have preferred to see the region through the crisis. He expressed confidence in the World Bank's commitment to supporting the region through this challenging period.
Looking ahead, Jaramillo emphasized the need for the region to focus on strengthening small and medium-sized enterprises (SMEs) and securing jobs, particularly as more young people enter the labor market. He also highlighted the importance of addressing the digital divide, which has left many people behind.
Regarding Kenya's debt level, Jaramillo maintained that it is stable, despite the International Monetary Fund's downgraded debt distress risk profile. He suggested that Kenya should focus on managing the COVID-19 crisis in the short term but resume its debt reduction plan once the recovery is underway.
Kenya has access to concessional financing, including $1 billion per annum from the International Development Association window for the next three years. Jaramillo also highlighted his legacy in pushing for greater transparency and accountability in the use of funds across the region, citing the Kenya government's efforts to publish contracts and tender information online.
