World Bank Offers Kenya Sh6bn To Fight Coronavirus

The World Bank has offered Kenya $60 million (Sh6 billion) to fight Covid-19 after the country confirmed its first case on Friday and two more cases two days later.

“In Kenya, we’ve committed $60 million to support the Government of Kenya’s response to Covid-19: $50 million from Covid-19 financing facility, while $10 million is triggered under contingency emergency response component of transforming health systems for universal care project,” said World Bank country director for Kenya Carlos Felipe Jaramillo.

In Kenya, three cases have been confirmed so far.

President Uhuru Kenyatta on Sunday banned the entry of travellers from coronavirus-hit countries, closed schools indefinitely and urged people to self-isolate by working from home. Also encouraged is the use of non-cash alternative s like mobile money and cards.

Globally, the World Bank has offered a $12 billion (Sh1.2 trillion) funding package to more than 60 countries grappling with the effects of the coronavirus.

“As Covid-19 reaches more than 60 countries, the World Bank Group is making available an initial package of up to $12 billion in immediate support to assist countries coping with the health and economic impacts of the global outbreak,” the bank tweeted on Friday.

The International Monetary Fund reckons that about one-third of the economic losses from the disease will be direct costs -from loss of life, workplace closures, and quarantines.

The remaining two-thirds will be indirect, reflecting a retrenchment in consumer confidence and business behaviour and a tightening in financial markets.

Read also: Pwani Oil Cuts Cooking Oil, Soap Prices In Fight Against Coronavirus

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