Kenya Borrows Another Ksh.7.8 billion From EU to address COVID-19 impact

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Kenya is set to receive an additional Ksh.7.8 billion from the European Union (EU) to address the socio-economic impact of the COVID-19 pandemic.

In a statement released to the press on Monday, the EU said the funds are geared towards helping Kenyans at risk of hunger and strengthening measures to curb the spread of the disease.

The hefty package includes Ksh.3.6 billion for mobilising resources towards containing the spread and impact of COVID-19 in the health, social and economic sectors through budget support to the Government of Kenya.

Ksh.1.2 billion has been set aside for direct support to vulnerable families and individuals in informal settlements through monthly cash transfers.

Another Ksh.2.4-3 billion is meant to provide SMEs with short-term working capital, which is essential for them to continue operating and keep Kenyans in jobs while a further Ksh.600 million is directly for the Safe Trade Emergency Facility which maintains the critical supply chains for trade, ensuring food security and access to critically required medicines.

“The European Union stands with Kenya during this challenging period and we recognise the severe impact this crisis is having on people’s lives,”

Said EU Ambassador to Kenya Simon Mordue.

“Today, through these support programmes, we are making a real difference to local communities across the country as well as in Nairobi’s informal settlements who are most affected by the outbreak, strengthening our partnership with Kenya.”

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