Sign in
Download Opera News App

COVID

 

Society COVID

 

International Monetary Fund Board Approves Ksh.255B Loan To Cushion Covid-19 Pandemic In The Country

The International Monetary Fund (IMF) has approved a Ksh. 255 billion to help in fighting the Covid-19 pandemic in the country. The money will be disbursed in the period of the next 38 months with the initial payment to be done in the next few days.

This is Kenya’s second loan program from the IMF in under one year having received Ksh.80.6 billion in May last year. This money was to curb the vulnerabilities exposed by the COVID-19 pandemic.

The Ministry Of Finance confirmed the approval of the loan on Friday. The money is expected to aid the country in combating the next face of the covid-19 pandemic.

The loan program was achieved under the umbrella of Extended Credit Facility (ECF) and the Extended Fund Facility which serve to cover countries with short and medium term balance of payments problems arising from structural weaknesses.

The third wave Covid-19 pandemic hit the country so hard forcing the president into locking down some Counties. This has however, not affected the people, but economy as well.

Content created and supplied by: SkyKeMedia (via Opera News )

Covid-19 IMF International Monetary Fund Board Kenya Ministry Of Finance

COMMENTS

Load app to read more comments