President Kenyatta asks World Bank to ease loan disbursement

President Uhuru Kenyatta meets with executive director of World Bank Louis Larose in Nairobi on January 21, 2015. PHOTO | PSCU 

In Summary

• President was speaking during a meeting with World Bank Executive Director Louis Larose at State House.
• He said Kenya would also welcome additional support from the bank to tackle emerging challenges including terrorism.

By PSCU
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President Uhuru Kenyatta has urged the World Bank to remove bureaucratic bottlenecks that slow down disbursement of its loans.

Saying Kenya had embarked on implementation of mega projects that have scaled up its capacity to absorb additional capital inflows, the President said removal of the hurdles would boost access to funding from Bretton Woods institutions.

“We are looking at expanding our railway and our power connectivity. We are determined to promote education and health sectors. We are, therefore, looking at the Word Bank as an institution that will nurture these projects for the benefit of Kenyans,” he said.

He spoke on Wednesday during a meeting with World Bank Executive Director Louis Larose, who paid him a courtesy call at State House, Nairobi.

President Kenyatta said his administration looks forward to working with the bank in implementing projects that will promote the ease of doing business and propel Kenya into a financial hub within the region and the African continent.

He added that Kenya would also welcome additional support from the bank to tackle emerging challenges including terrorism.

“We need to work together in improving security. Without security, all the good projects that we intend to implement for our people will come to naught,” said the President.