Africa's GDP growth is projected to accelerate in 2024 and 2025, with the African Development Bank (AfDB) aiming to boost infrastructure funding. President William Ruto of Kenya calls for significant funding to the AfDB and announces investments totaling billions of Kenyan shillings and US dollars to enhance Kenya's shareholding in AfDB, Afrexim Bank, and the Trade & Development Bank. Kenya is set to spend Ksh.13.2 billion to increase its investment in the AfDB. Additionally, the World Bank has approved $1.2 billion in funding for Kenya to address fiscal pressures and promote sustainable growth.
World Bank approves $1.2 billion in funding for Kenya to support the East African nation’s growth https://t.co/v6UTpiUEMI
President Ruto on seeing the World Bank release $1.2B to Kenya: https://t.co/WeCfbAGAOd https://t.co/bXLsWnvcYz
💰 🇰🇪 | The World Bank has approved $1.2B for Kenya aimed at addressing short-term fiscal pressures and promoting sustainable growth under the Development Policy Operation (DPO) framework. 📝 Funding Composition: ——$850M IBRD loan ——$300M IDA credit ——$50M IDA grant for Host… https://t.co/x7VLzTwr30
African presidents bank on cheaper credit to steer economies President Ruto says the continent is not seeking handouts but aspires to grow by accessing development funds on fair terms. https://t.co/JqeR70psmh https://t.co/hZthBOInqf
Kenya to invest Ksh.13.2 billion in African Development Bank https://t.co/295pFEALlY
Kenya to spend Ksh.13 billion ($100 million) to increase shareholding in 3 pan-African banks, President Ruto announces https://t.co/NIQYl71997
President William Ruto says that over the next 3 years, Kenya will pump US$100.0M in enhancing its shareholding in Africa Development Bank (AfDB), Afrexim Bank & the Trade & Development Bank (TDB). Also, Kenya has made a commitment of US$20.0M into the Africa Development Fund https://t.co/51fr4xbX6E
President Ruto calls for Ksh.3.4 trillion funding to the African Development Fund https://t.co/8L6I1Ha9jE
AfDB aims to boost infrastructure funding as African growth accelerates https://t.co/SrT2sYNANt https://t.co/sSGhQapYsV
Africa's GDP growth to accelerate in 2024 and 2025, AfDB says https://t.co/BSQQaQCewX https://t.co/2Yz6DHcRWV