Kenya Expects $700 Million in World Bank, IMF Funding in Months

Kenya will receive at least $700 million from the World Bank and International Monetary Fund within months, according to the central bank, disbursements that will ease pressure on the nation’s foreign-currency reserves.

The East African nation will get at least $400 million — a figure “likely to be much higher” — from the World Bank by the end of June, Central Bank of Kenya Governor Patrick Njoroge told reporters Tuesday in the capital, Nairobi. About $300 million more is expected from the International Monetary Fund after the lender completes a program review scheduled for June, he said.