This archive report was first published on 19 December 2019.
Published on December 19, 2019, Kenya's loans from the International Development Association (IDA) for the year ended June 2019 grew to KSh 142.3 billion.
According to the World Bank, IDA is the lending agency that provides concessionary loans to poor countries to fund social projects such as healthcare, education, and clean water.
Kenya became the third-highest recipient of concessionary loans from the International Development Association, behind Bangladesh at KSh 196.5 billion and Ethiopia at KSh 227.3 billion.
The Big Four Agenda represented the largest loan item for the year, with the World Bank approving a KSh 76.2 billion facility for budgetary support in May.
Kenya's debt continues to grow, with public debt recently hitting 6 trillion, raising concerns from international agencies such as the IMF.
Parliament recently raised Kenya's debt ceiling to 9 trillion, and there are concerns that the proposed supplementary budget might require more debt financing.
IDA issues concessionary loans to poor countries with zero or low interest rates, offering repayment periods of 30-38 years and 5-10 years of grace periods.
