World Bank approves Kenya's Sh16 billion loan on strict conditions

World Bank has directed that 87.5% of the funds will be spent at the county and community level.

President Uhuru Kenyatta signing a document in his office

The World Bank has approved a US$150 million (Sh16.6 billion) loan to Kenya.

According to a statement from World Bank Kenya, the loan is meant to strengthen Kenya's Resilience to Climate Change.

The Locally–Led Climate Action -#FLLoCA program will support locally-led climate resilience projects in all rural wards in Kenya.

One of the key objective of #FLLoCA program is to deliver locally-led climate resilience actions & strengthen county & national governments' capacity to manage climate risks

Notably, 87.5% of the funds resources will be spent at the county and community level, demonstrating the commitment to ensure climate finance reaches the lowest levels and those most vulnerable to climate risks.

The financing will be supplemented by a grant of Sh2.3 billion from the Social Sustainability Initiative for All Umbrella Multi-Donor Trust Fund with resources from the Govts of Denmark & Sweden.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

KDF moves to forcibly acquire Sh 500M supermarket land in Nairobi

KDF moves to forcibly acquire Sh 500M supermarket land in Nairobi

Raila graces Luo Festival as a surprise guest [VIDEO]

Raila graces Luo Festival as a surprise guest [VIDEO]

CS Kagwe confirms hacking of Chanjo system, fake vaccination certificates

CS Kagwe confirms hacking of Chanjo system, fake vaccination certificates

Ida Odinga given new name after touring Nyeri alongside Raila

Ida Odinga given new name after touring Nyeri alongside Raila

Ngirici opens up on her deteriorating relationship with Ruto

Ngirici opens up on her deteriorating relationship with Ruto

Moi's will shows how he divided mutli-billion wealth to his children

Moi's will shows how he divided mutli-billion wealth to his children

Universities with most unemployed graduates to lose state funds in proposed formula

Universities with most unemployed graduates to lose state funds in proposed formula

JSC Summons Sonko over exposé on Justice Said Chitembwe

JSC Summons Sonko over exposé on Justice Said Chitembwe

Ndichu brothers demand arrest of Murgor sisters

Ndichu brothers demand arrest of Murgor sisters