HomeNEWSBUSINESSKenya Eyes Ksh23B World Bank Loan to Spur Food Production

Kenya Eyes Ksh23B World Bank Loan to Spur Food Production

Kenya expects to receive $200 million (Ksh23 Billion) in loans from the World Bank to facilitate projects meant to boost the country’s food security.

The funds will be channeled towards projects across agriculture value chains.

World Bank Senior Agriculture Specialist  Vinay Kumar Vutukuru stated that they expected talks on the loan to be completed within the next two months and the credit approved.

“We are currently in talks with the government with a view to continue our support to the agriculture sector to enhance food production,” he stated.

At the moment, the World Bank funds agriculture projects in Kenya valued at $500 million (Sh56.8 billion).

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Vutukuru spoke during a launch event for a five-year management strategy for migration and invasive pests and weeds. It was informed by the desert locust invasion of 2019 that wreaked havoc on farms across East Africa.

Agriculture CS Peter Munya whose docked was central to formulation of the strategy was among those present at the event. He highlighted lessons picked from the invasion and their importance going forward.

He cited seven priority pillars identified in the sttategy to enable a coordinated collaborative approach. The plan is anchored on the creation of a comprehensive pest management system.

“This ministry with the support of the Food and Agriculture Organisation and the World Bank spearheaded the development of the Strategy for Management of Migratory and Invasive Pests,” the CS stated.

FAO Deputy Director General Beth Bechool stated; “FAO is supportive of the Government plans to fully contain the desert locust and other migratory pests, management. Under the new strategies, various strategic interventions will be implemented including resource mobilisation and management, livelihood restoration and resilience mechanism among others.”

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