Kenya seeks Sh39bn World Bank loan on global shocks

Kenya has sought approximately $300 million (Sh38.8 billion) in emergency funds from the World Bank to manage economic shocks triggered by the Iran war. The country is facing shortages of essential commodities, including petrol, and rising costs that could drive up inflation. In response, the government has halved VAT on fuel and is spending about Sh6 billion in subsidies to cushion consumers from the impact.