PM urges World Bank to release Sh90 billion

By John Njiraini

The Government has asked the World Bank to fast-track the release of Sh90 billion aimed at financing various development projects.

Prime Minister, Raila Odinga, called on the Bretton Woods institution to quickly disburse the funds, which have been committed to finance projects in sectors like energy, health, education, roads, and youth employment initiatives.

The delay has been caused by the elaborate conditions demanded by the bank, which include clear governance structures, to guarantee the funds are used for their intended purposes.

The PM spoke after meeting with visiting World Bank Vice-President for Africa, Obiageli Ezekwesili. The meeting discussed issues that could strengthen the bank’s contribution towards accelerating economic growth, and alleviating poverty. The PM said the bank was committed to supporting the country, particularly in areas of development of green energies, and restoration of forests.

Speaking at a press conference, Ezekwesili said the World Bank had elaborate procedures for disbursement of funds, which are measured against the performance of governments in utilising already released funds.

"We use procedures in disbursing funds to reduce the chances of misappropriation," she said.

 

 

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