NAIROBI, June 30 (Xinhua) -- The World Bank said Tuesday that it has approved a 750 million U.S. dollar Development Policy Operation loan for Kenya, designed to strengthen governance, improve public financial management, and expand social protection for the country's most vulnerable citizens.
The World Bank said in a statement released in Nairobi, the Kenyan capital, that the financing package comprises a 340 million dollar loan from the International Bank for Reconstruction and Development and a 410 million dollar highly concessional credit from the International Development Association.
It said the funding will contribute to Kenya's efforts to establish the regulatory certainty required to create jobs, attract private investment, and lift people out of poverty.
According to the World Bank, the Second Kenya Fiscal Sustainability and Resilient Growth Development Policy Operation supports the country's reform program to make public resources more transparent, efficient, and equitable while reducing corruption.
The lender said the program safeguards Kenya's most vulnerable populations by supporting the Social Protection (General) Regulations 2026, which establish a clearer framework for delivering social assistance.
The World Bank urged Kenya to sustain the momentum of these reforms to ensure long-term fiscal and debt sustainability while reaffirming its commitment to partnering with the country to build a more transparent, resilient, and inclusive economy. ■