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.
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.
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