The World Bank has approved a $750 million (Ksh97.1 billion) financing package for Kenya.
In a statement on Monday, June 29, the World Bank said the Ksh97.1 billion funding will support Kenya’s efforts to strengthen governance, improve public financial management, and expand social protection.
“Kenya's reform to strengthen governance, improve public financial management, and expand social protection for its most vulnerable citizens received World Bank Group support today through a US$750 million Development Policy Operation (DPO), contributing to the country's efforts to establish the regulatory certainty required to create jobs, attract private investment, and lift people out of poverty,” read the statement in part.
According to the World Bank, the financing package comprises a $340 million (Ksh44 billion) loan from the International Bank for Reconstruction and Development (IBRD) and $410 million (Ksh53 billion) in highly concessional financing from IDA.
The package also includes dedicated livelihoods support for refugees and host communities in Kenya.
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The World Bank noted that a key component of Kenya's reform program is strengthening governance and preventing corruption.
The global lender highlighted the Conflict-of-Interest law and the Conflict-of-Interest Regulations 2026, saying they set clear rules to prevent, detect, and investigate situations in which public officials could use their positions for private gain.
World Bank Division Director for Kenya, Qimiao Fan, said the two regulations will help improve the management of public resources.
"By supporting reforms to address conflicts of interest, strengthen procurement systems, improve public financial management, and expand social protection, this operation will help Kenya reduce leakage, generate fiscal savings, and ensure that public resources deliver better results and reach the people who need them most," he stated.
Fan also said the laws will create a stronger business environment capable of supporting higher economic growth and encouraging private sector investment.
"It is also helping establish the foundational, business-enabling environment that is necessary to support higher and more inclusive growth and for the private sector to create jobs,” he added.
According to the World Bank, Kenya faces acute fiscal and development challenges, including elevated public debt, a wide fiscal deficit, and a high risk of debt distress.
The global body also mentioned that the country has 24.7 million people living in poverty and a fast-growing labor force that the economy is not yet generating enough quality jobs to absorb.
"The World Bank's engagement through the Second Kenya Fiscal Sustainability and Resilient Growth Development Policy Operation (DPO) and Sustainability Linked Loan (SLL) addresses both the immediate fiscal challenge and the longer-term structural agenda," the lender stated.
The Ksh97.1 billion funding comes nearly two weeks after President William Ruto held talks with World Bank Group President Ajay Banga.
The two met on the sidelines of the G7 Summit in Évian, France, on June 16.
In a statement after the meeting, President Ruto said they discussed advancing Kenya’s development priorities and mobilizing greater investment for sustainable and inclusive growth.
“We discussed advancing Kenya’s development priorities and mobilizing greater investment for sustainable and inclusive growth.
“I also welcomed the World Bank’s support for reforms to the international financial architecture that will expand access to capital, strengthen resilience and better reflect the realities and aspirations of developing countries,” President Ruto stated.
