This archive report was first published on 23 May 2020.
On May 22, 2020, Kenya had over 1000 COVID-19 infections, with 375 recoveries and 50 deaths. The pandemic was putting immense pressure on the country's already strained healthcare system, disrupting supply chains and causing job losses in various sectors, including tourism, hospitality, horticulture, and airlines.
The African Development Bank (AfDB) has come to Kenya's aid, approving a KSh22 billion (€188 million) loan to support the country's COVID-19 response efforts. The loan was requested by the government of Kenya as part of its COVID-19 Emergency Response intervention.
According to AfDB, the funds will be used to strengthen the national health system, support the poor and vulnerable people, and build economic resilience to ensure a quick recovery. The loan is a significant boost to Kenya's efforts in responding to the pandemic and mitigating its related economic, health, and social impacts.
Acting Director General for East Africa, Nnenna Nwabufo, stated, "We are very pleased to join other development partners in supporting the Government of Kenya's efforts in mitigating the financial impact of the pandemic, especially in terms of the country's expenditure in the health, social and economic sectors. The next step will focus on helping build resilience for post-COVID-19."
Kenya's real GDP growth is projected to fall to between 0.6 and 1.4 percent from the initial 2020 projection of 6 percent due to demand and supply shocks caused by the pandemic.
