World Bank Stalls Loan to Kenya
The World Bank will delay releasing $750 million (KSh 96.9 billion) to Kenya after the National Assembly failed to pass the Conflict of Interest Bill, 2023, which aims to curb graft among public officers. This has forced the Treasury into a third budget review for the current financial year, which ends this June. The lender had specified the passage of the bill into law as a condition for releasing the funds. President William Ruto declined to sign it into law, citing 12 clauses in the bill that had been watered down.