Kenya ranks as the fourth-largest borrower from the International Development Association (IDA)—the World Bank’s soft loan arm—securing $2.01 billion (Sh316.78 billion) in low-interest loans for the fiscal year ending June 2023, marking the third consecutive year of increased borrowing.
IDA provides concessional loans and grants to the world’s poorest countries, with Kenya following Pakistan, Bangladesh, and Tanzania in borrowing amounts.
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