The World Bank has approved a $750 million loan for Kenya, aimed at supporting the East African country’s 2022 budget.
Kenya would have to carry out some necessary reforms in its public procurement procedures, aimed at curtailing corruption as a condition to for the approval of the money.
The world bank recommends that Kenya establishes an electronic platform for public procurements. The goal for this is to encourage transparency, thus limiting corruption.
“By the end of 2023, the program aims to have five strategically selected ministries, departments, and agencies, procuring all goods and services through the electronic procurement platform.”
The $750 million loan that has been approved is the second tranche of a credit facility that was launched for Kenya in 2020, after the East African country qualified…
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