The disbursement under the Development Policy Operations (DPO) facility will provide Kenya with additional resources to help plug the budget deficit in the fiscal year 2022/23, which runs from June to June.
Last week’s downgrade of Kenya’s debt repayment rating did little to protect the country from additional external debt. This comes after the World Bank Group approved an Sh32 billion increase in Kenya’s loan request, as Kenya is set to receive $1 billion (Sh129 billion) in budgetary support in June.
