World Bank Group partners with CRA to educate financial officers

Commission Revenue Allocation (CRA) Chairperson, Dr. Jane Kiringai makes an address on CRA Strategic plan at the Hotel Intercontinental, Nairobi. [Photo: Elvis Ogina/Standard]

World Bank Group is partnering with Commission for Revenue Allocation to set up a County Creditworthiness Academy that will offer creditworthiness education to county government finance officers and the national government staff.

CRA chair, Dr. Jane Kiringai said, “We encourage the Academy participants to learn from the various experiences shared by the Faculty and other key speakers who have amassed tremendous expertise from decades of experience in credit worthiness, both as market participants and as knowledge leaders.”

Among the key areas to be taught involves market failures, risks as well as obstacles to market-based financing in which staff will undergo training across the nine counties that has been earmarked by the CRA.

The International Finance Corporation Country Manager, Manuel Moses said that the training is in line with the WB’s goal of ending poverty as well as promoting devolution.

“This requires multiple initiatives such as supporting County Governments on the path to creditworthiness to unlock the potential for achieving larger, long-term and sustainable financing,” he held.

Chief financial officers, planners, treasurers and revenue directors are expected to participate in the academy to improve their knowledge on expenditure control and asset maintenance, debt management, revenue management and enhancement and capital investment planning.

This is one of the various projects that the World Bank is undertaking in the country.

In December 2018, The Kenyan government through the ministry of energy, in conjunction with the World Bank was reported to have plans of launching the Kenya national electrification strategy (KNES) 2018 –2022 through hosting a national electrification conference and an international exhibition, under the theme “Achieving universal access to electricity by 2022”.

The Kenya national electrification strategy (KNES) is designed to provide a roadmap to full electrification access (universal access) by identifying the least cost and most effective solutions for electrification coverage in Kenya.