This archive report was first published on 24 May 2020.
On May 22, 2020, the African Development Bank (AfDB) board of directors approved a 188 million euro (Sh22 billion) loan for Kenya to combat the economic, health, and social impact of the Covid-19 pandemic.
The loan, aimed at helping Kenya mitigate the pandemic's effects, will be used to strengthen the national health system, build economic resilience, and support the poor and vulnerable who have been negatively affected by the pandemic.
According to AfDB Acting Director General for East Africa Nnenna Nwabufo, the loan is part of the bank's efforts to support 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," Nwabufo said.
As of yesterday, 1,192 people in the country had been confirmed to be infected with Covid-19, with 50 deaths from the disease. The government has implemented measures to check the spread of the virus, including a dusk-to-dawn curfew and cessation of movement into and out of five counties.
Kenya's real gross domestic product (GDP) growth is projected to fall to between 0.6 per cent and 1.4 per cent from an initial 2020 projection of six per cent, due to demand and supply shocks caused by the pandemic.
