WORLD BANK APPROVES KENYA 16 BILLION LOAN IN STRICT CONDITION

The World Bank has approved a US$150 million (Sh16.6 billion) loan to Kenya.⁣
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According to a statement from World Bank Kenya, the loan is meant to strengthen Kenya’s Resilience to Climate Change.⁣
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The Locally–Led Climate Action -#FLLoCA program will support locally-led climate resilience projects in all rural wards in Kenya.⁣
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One of the key objective of #FLLoCA program is to deliver locally-led climate resilience actions & strengthen county & national governments’ capacity to manage climate risks⁣
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Notably, 87.5% of the funds resources will be spent at the county and community level, demonstrating the commitment to ensure climate finance reaches the lowest levels and those most vulnerable to climate risks.⁣
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The financing will be supplemented by a grant of Sh2.3 billion from the Social Sustainability Initiative for All Umbrella Multi-Donor Trust Fund with resources from the Govts of Denmark & Sweden