African Press International (API)

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Kenya gets money from the World Bank

Posted by African Press International on April 25, 2007

Nairobi (Kenya) The World Bank has approved $338 million for concessional loans to support Kenya’s development agenda that seeks to alleviate poverty, improve education and sustainably manage its natural resources, APA learnt Monday.

Finance Minister Amos Kimunya said the World Bank has approved the loans because the country’s macro-economic environment was sound, and that public debt had decreased while prices remained stable and a decline in real interests.

“In view of the good progress that the government has made in reforms, the Bank has decided to support the government’s own strategy for improved governance for achieving middle income status by 2030,” he said.

The areas earmarked for funding include natural resource management, flood mitigation projects, ICT and education sectors.

Addressing the press in Nairobi on Monday, the minister said the government has gained the confidence of bilateral and multilateral development partners.

Published by Korir, African Press in Norway, apn,

source.apa

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