World bank commends Kenya for launching Hustler Fund

World Bank President David Malpass has commended Kenya for launching the Hustler Fund. 

Malpass said the initiative will stimulate entrepreneurship and create more employment for Kenyans. 

He met President William Ruto in Washington DC during Ruto’s tour to the US. 

The Hustler fund was launched on November 30 at the Greenpark Terminus by Ruto. 

So far, Sh1.8 billion has been repaid by the borrowers, translating to slightly more than 20 per cent of the Sh8.4 billion disbursed. 

Cooperatives CS Simon Chelugui said that over 16 million Kenyans can now access the fund. 

 “We’re progressing well and proud of what we’ve been able to achieve so far. In fact, the amount of borrowing is now almost at par with the amount repaid per day,” he said.

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To access the fund, Kenyans can dial *254# on their mobile phones.