{"id":14036,"date":"2020-09-07T20:11:52","date_gmt":"2020-09-07T20:11:52","guid":{"rendered":"https:\/\/www.africa-press.com\/kenya\/?p=14036"},"modified":"2020-09-08T17:48:14","modified_gmt":"2020-09-08T17:48:14","slug":"kenyan-government-in-talks-with-world-bank-for-budget-support-loan","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/economy\/kenyan-government-in-talks-with-world-bank-for-budget-support-loan","title":{"rendered":"Kenyan government in talks with World Bank for budget-support loan"},"content":{"rendered":"<p><strong>Author: Bloomberg<\/strong><br \/>\n<strong>AfricaPress-Kenya:<\/strong> Kenya is in talks with the World Bank for a loan to provide further budget support, according to Treasury Secretary Ukur Yatani.<\/p>\n<p>The government and the lender are \u201cstill discussing policy areas\u201d to be covered by the financing and are yet to agree on the amount, Yatani said. The loan \u201cdoesn\u2019t look likely for this financial year,\u201d he said Tuesday in a text message.<\/p>\n<p>Budget support operations do not have specific time-lines and are presented to the board for decision upon completion of the implementation of the reform actions, the World Bank said in an emailed response to queries. \u201cThe amount has not yet been decided because we are at the early stages,\u201d it said.<\/p>\n<p>The Washington-based lender in May approved\u00a0Sh108 billion in budget support for Kenya, which followed a Sh81 billion package approved in 2019. The government will spend the money on subsidised agricultural inputs, affordable housing and improving transparency in public financial management, the lender said at the time.<\/p>\n<p>This will be the third time Kenya takes up a so-called development policy operation loan from the World Bank.\u00a0It is a tool used to provide financing to help countries plug budget deficits and signals the nation\u2019s shift to cheaper concessional funding as it faces debt-distress concerns.<\/p>\n<p>The\u00a0IMF in May\u00a0raised Kenya\u2019s risk of debt distress\u00a0to high from moderate, citing coronavirus shocks. Already, economists and policymakers have projected that the economy will take a major hit from the pandemic, with the World Bank and IMF forecasting the national output to contract for the first time in 20 years.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Author: Bloomberg AfricaPress-Kenya: Kenya is in talks with the World Bank for a loan to provide further budget support, according to Treasury Secretary Ukur Yatani. The government and the lender are \u201cstill discussing policy areas\u201d to be covered by the financing and are yet to agree on the amount, Yatani said. The loan \u201cdoesn\u2019t look [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":13552,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[877,1031],"class_list":["post-14036","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-cs-ukur-yatani","tag-world-bank"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Kenyan government in talks with World Bank for budget-support loan - kenya<\/title>\n<meta name=\"description\" content=\"Kenya is in talks with the World Bank for a loan to provide further budget support, according to Treasury Secretary Ukur Yatani.The government\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/economy\/kenyan-government-in-talks-with-world-bank-for-budget-support-loan\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kenyan government in talks with World Bank for budget-support loan\" \/>\n<meta property=\"og:description\" content=\"Kenya is in talks with the World Bank for a loan to provide further budget support, according to Treasury Secretary Ukur Yatani.The government\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/economy\/kenyan-government-in-talks-with-world-bank-for-budget-support-loan\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2020-09-07T20:11:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-09-08T17:48:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2020\/08\/world_bank_suspends_5f495adde742c.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/kenyan-government-in-talks-with-world-bank-for-budget-support-loan#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/kenyan-government-in-talks-with-world-bank-for-budget-support-loan\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Kenyan government in talks with World Bank for budget-support loan\",\"datePublished\":\"2020-09-07T20:11:52+00:00\",\"dateModified\":\"2020-09-08T17:48:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/kenyan-government-in-talks-with-world-bank-for-budget-support-loan\"},\"wordCount\":276,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/kenyan-government-in-talks-with-world-bank-for-budget-support-loan#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2020\/08\/world_bank_suspends_5f495adde742c.jpg\",\"keywords\":[\"CS Ukur Yatani\",\"World Bank\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/economy\/kenyan-government-in-talks-with-world-bank-for-budget-support-loan#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/kenyan-government-in-talks-with-world-bank-for-budget-support-loan\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/economy\/kenyan-government-in-talks-with-world-bank-for-budget-support-loan\",\"name\":\"Kenyan government in talks with World Bank for budget-support loan - 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