The African Development Bank (AfDB) has approved a KSh10.9 billion loan to support Kenya’s push for cleaner procurement processes.
According to the bank, some of the funds will be used to support the adoption of an electronic procurement system for government goods and services in order to improve transparency in public procurement and reduce graft.
“Building on the reforms supported by the Bank under the first phase, the second phase of the CERSP (Kenya’s Competitiveness and Economic Recovery Support Programme) will support Kenyans in their efforts for greater transparency in public sector dealings by heralding the adoption of an electronic government procurement system by mandating companies that participate in public procurements to disclose their beneficial ownership information to the procuring entity/contracting authority,” Business Daily quotes AfDB.
The AfDB is the most recent multilateral lender to lend to Kenya, joining the International Monetary Fund (IMF) and the World Bank.
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