Kenya is expected to receive about Ksh52 billion ($400 million) in emergency financing from the World Bank within six weeks to help cushion the economy against risks linked to Ebola, El Niño-related disruptions and high energy prices.
Kenya applied for the World Bank’s Rapid Response Option after the Iran conflict triggered a sharp rise in global crude oil prices.
The funding is expected to support the health sector, agriculture, water resources and broader economic stability.
The World Bank confirmed it is working with Kenya to finalise a framework that would allow rapid access to financing during eligible crises.
Kenya currently has a World Bank project portfolio worth more than Ksh910 billion ($7 billion).
