World Bank To Loan Kenya $1.1 Billion To Finance Northern Region Infrastructure Projects

road constructionECONOMIC BRIEF

Kenya is set to get a $1.1 billion loan from World Bank to finance its infrastructure projects in the country’s northern region.

According to the World Bank Vice President in Africa, the loan is the latest in series granted to Kenya to accomplish its development agenda saying Kenya is doing pretty well in the Africa context as well in the global context.

The funds will be used to build roads, improve water and energy supplies and support livestock farming in the country's arid northern region. 

The loan package was prepared at the request of the Kenyan President Uhuru Kenyatta.

Infrastructural projects to be funded with the loan include a modern road linking Isiolo, a town in the lower eastern region, with Mandera, a town close to the border with Somalia.

Makhtar Diop, the World Bank Vice President for Africa region said World Bank expected Kenya's economy to expand by 5.9 percent this year, close to the government's forecast of 6 percent.

Kenya’s economy grew to 5.6 percent last year (2015).

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