The International Monetary Fund board has approved the issuance of 28 billion Kenya shillings as loan to Kenya bringing total disbursements under the three-year program to 143 billion Kenya shillings.
This is after the multilateral lender and Kenyan authorities reached a staff level agreement on economic reviews marking the third review of a 38 month loan program valued at 270.7 billion shillings.
The IMF executive board which sits in Washington DC formally approved the staff level deal in April.
The visiting IMF staff team which made a hybrid mission to Kenya between March 31 and April 22 noted Kenyan authorities had been making significant progress on reforms underpinning the three year program.