|Approval Date||18 Dec 2020|
|Signature Date||12 Feb 2021|
|Planned Completion Date||31 Mar 2023|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||11330|
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.
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.
The project will benefit the Government.
Middle Income Countries Fund
MINISTRY OF FINANCE
|Last Update||14 Aug 2022|