The Central Bank of Kenya (CBK) has today released Shs 7.4 billion to support Government efforts to contain the spread of Coronavirus in the country.
Speaking at State House, Nairobi, during President Kenyatta’s meeting with the private sector, CBK Governor Dr Patrick Njoroge said the money was gained from the mop-up of the old 1000 shillings bank notes.
“As you recall in September last year we concluded the demonetization of our currency relating to our old generation one thousand bank notes. That matter was concluded and as a result of that, Shs 7.4 billion worth of bank notes never came back to the system.
“That money would have been held by people who, for whatever reason, did not want to subject themselves to the checks that were in place. So most likely this was money that might have been illicitly acquired through the various channels that we have talked about in other forums,” the CBK Governor said.
President Kenyatta thanked CBK for the contribution and directed Treasury Cabinet Secretary Ukur Yattani to ensure the money is used to support Kenyans to overcome the current health crisis.
“That money goes to help our health facilities and our health workers,” the President said.
He added: “That again is something we appreciate and this is what I mean when I say Kenyans working together can achieve miracles.”
During the meeting, the President announced a further Shs 1 billion allocation by the Government for hiring of more health workers needed to increase the country’s capacity to deal with the Coronavirus pandemic.
He said the additional funds will ensure the government brings on board enough manpower to support those already in the field working to save lives.
