This archive report was first published on 5 July 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.
During his time in office, Jaramillo oversaw the World Bank's Covid-19 response in the region, which included a $1 billion loan to Kenya, the largest debt facility extended to the government.
When asked about his greatest accomplishment, Jaramillo cited the rapid assembly of a team to assist in the response and the provision of resources to support the financing response across the region.
However, Jaramillo expressed disappointment at having to leave in the midst of the Covid-19 crisis, which has had a significant impact on the region.
As the region recovers, Jaramillo emphasized the need to strengthen small and medium-sized enterprises (SMEs) and secure jobs, particularly for young people entering the labor market.
He also highlighted the importance of addressing the digital divide, which has left many people behind during the pandemic.
Regarding Kenya's debt level, Jaramillo maintained that it is stable, despite the International Monetary Fund's downgrading of the country's debt distress risk profile.
He advised Kenya to focus on managing the Covid-19 crisis in the short term but to 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 for the next three years.
Under Jaramillo's leadership, the World Bank has pushed for greater transparency and accountability in the use of funds across the region.
He is proud of the progress made in strengthening transparency and internal control systems, including audits to prevent the misuse of funding.
