This archive report was first published on 23 May 2020.
On May 23, 2020, Kenya received a €188 million loan from the African Development Bank to support its efforts in responding to the COVID-19 pandemic and mitigating its economic, health, and social impacts.
The loan, worth Sh21.9 billion, follows a request by the Government of Kenya to help contain the pandemic.
The funds will be used to strengthen the national health system, build economic resilience, and ensure a quick recovery of the economy.
The loan will also support the poor and vulnerable people who have been negatively affected by the pandemic.
"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," said Nnenna Nwabufo, the Bank's Acting Director-General for East Africa.
The loan is part of a series of funding received by the government in the last week, with a total of at least Sh133.3 billion in loans.
Earlier, the World Bank approved a US$43 Million - Sh4.59 billion - International Development Assistance credit to respond to the desert locust outbreak and strengthen Kenya's system for preparedness.
Additionally, the World Bank approved a US$1 billion - Sh106.8 billion - loan to close Kenya's fiscal financing gap generated by the severe, ongoing shock to the economy.
