The government, through the National Treasury, has secured a Ksh8.9 billion (€60 million) loan from the OPEC Fund for International Development, an intergovernmental development finance institution.
The multi-billion shilling loan agreement was signed on Tuesday, April 22, between OPEC Fund President Abdulhamid Alkhalifa and Kenya's Treasury Cabinet Secretary John Mbadi during the latter's visit to the United States.
While announcing the acquisition of the loan, the Ministry of Treasury revealed that the proceeds would be used for the Economic Transformation and Green Recovery Support Programmes (ETGRSP).
According to CS John Mbadi, the policy-based loan would also support the implementation of critical government projects, including the establishment of the Kenyatta National Hospital (KNH) Burns and Paediatrics Centre.
