The World Bank has authorized a Development Policy Operation worth Sh87.5 billion (USD750 million) to help increase fiscal sustainability in governance.
The DPO is the second of two development operations that began in 2020 and provide low-cost budget finance as well as assistance with essential policy and institutional changes.
Keith Hansen, the World Bank’s Country Director for Kenya, praised the government for keeping the momentum going on essential reforms despite the pandemic’s interruption.
Hansen mentioned the transition of government procurement to a new electronic platform, which would have five strategically selected ministries, departments, and agencies acquiring all goods and services through the platform by December 2023.
In the infrastructure sector, efforts will build a platform for investments in low-cost, sustainable energy technology, as well as improve the legal and institutional framework for public-private partnerships (PPPs) to attract more private capital.
The World Bank would continue to support the efforts, he said, since they are positioned Kenya to maintain its strong economic growth and push it toward inclusive and green development.
Email: uzalendonews24@gmail.com to submit your story.
SUBSCRIBE TO OUR YOUTUBE CHANNEL
