Kenya - National Treasury Capacity Strengthening Project


Project Summary

Approval Date 18 Dec 2020
Signature Date 12 Feb 2021
Planned Completion Date 31 Mar 2023
Sovereign / Non-Sovereign Sovereign
Sector Multi-Sector
DAC Sector Code 11330
Commitment U.A 200,000
Status Implementation

Project General Description

The project will support the GoK’s efforts to mitigate macro-fiscal and debt management challenges and risks. Kenya faces elevated debt vulnerability risks largely resulting from fast-changing public debt size and portfolio composition in favor of more expensive and shorter-term commercial loans. The country’s debt stock is expected to rise by 7.9% in 2020 against 6.3% in 2019 as the GoK contracts additional debt to fight the health, social and economic impact of the COVID-19 pandemic. This rising debt level poses a significant risk to debt sustainability, which could negatively affect macroeconomic stability and limit the GoK’s ability to finance development programs.

Project Objectives

The goal of the project is to strengthen the capacity of the NT for improved economic policy management and enhanced transparency, accountability, efficiency and effectiveness in public debt and project management. It is designed to build on and complement the Public Debt Management Support Project (PDMS), which was approved by the Bank earlier in 2020.

Beneficiaries

The project will benefit the Government.

Participating Organization

Funding
Middle Income Countries Fund
Implementing
MINISTRY OF FINANCE

Information

IATI identifier 46002-P-KE-K00-011
Last Update 14 Aug 2022

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Contact Details

Name UMUBYEYI Angelique
Email a.n.umubyeyi@afdb.org

Geographic Location

Country Kenya