Approved on July 8, the programme is designed to support economic governance reforms, improve the management of public resources and create greater opportunities for young people, women and small businesses. The initiative also seeks to strengthen climate resilience and support sustainable economic growth.
According to the AfDB, the programme will focus on reforms aimed at improving public financial management, fiscal transparency, debt reporting, procurement systems and financial integrity.
The operation will also support measures to promote economic inclusion, women’s economic empowerment, job creation and the development of micro, small and medium-sized enterprises.
AfDB Group Governance Department Director Abdoulaye Coulibaly said Kenya has continued to implement important reforms despite a challenging global economic environment.“Kenya has demonstrated resilience in navigating a challenging global environment while continuing to pursue important reforms to strengthen its economy and create opportunities for its people,” said Coulibaly.
Coulibaly said the financing reflects the Bank’s confidence in Kenya’s reform agenda and its commitment to supporting inclusive growth, private-sector development and climate resilience.
The programme was developed in collaboration with the Kenyan government and coordinated with development partners, including the International Monetary Fund and the World Bank.
According to the AfDB, this coordinated approach will help support Kenya’s efforts to strengthen fiscal sustainability, improve governance, encourage private-sector investment and enhance resilience against economic shocks.
The new financing builds on reforms implemented during the first phase of the programme and aligns with Kenya’s Fourth Medium-Term Plan covering the 2023–2027 period.
It also supports the broader objectives of Kenya Vision 2030, the country’s long-term development strategy aimed at transforming Kenya into a newly industrialised middle-income economy by 2030.
Coulibaly said the operation demonstrates the strength of relations between Kenya and the AfDB. “This operation reflects the strength of the partnership between the AfDB and Kenya,” said Coulibaly.
Coulibaly added that the programme will help strengthen public institutions, improve the efficiency and transparency of government spending, expand opportunities for entrepreneurs and young people, and contribute to building a more resilient and inclusive economy.
Kenya has been a member of the AfDB Group since 1964. Over the decades, the institution has supported projects across key sectors including infrastructure, energy, agriculture, water and sanitation, governance, regional integration and private-sector development.
–AfDB/ChannelAfrica–
