Foreign, News

Kenya receives Sh8 billion loan from Japan to fund Big Four’s Health pillar

Japan Ambassador to Kenya Ryoichi Horie and Treasury CS Ukur Yatani on Thursday / COURTESY

Japan has loaned Kenya Sh8 billion to support universal health coverage, which is one of the pillars of President Uhuru Kenyatta’s Big Four agenda.

Japan Ambassador to Kenya Ryoichi Horie on Thursday said since the outbreak of Covid-19 in Kenya his country has been contributing to the fight against the virus through the Japan International Cooperation Agency supplies.

“It has also disbursed around Sh340 million through UNDP and Unicef to strengthen the health system,” Ambassador Ryoichi said.

He further announced that Japan will supply 10 ambulances to Kenya, and sign another agreement with the government next week to disburse funds to the counties.

Together with Katsutoshi Komori, Chief Representative of JICA in Kenya, the envoy thet handed over PCR test kits to Kemri, which will enhance Kenya’s test capability.

By the end of June, Kenya’s total public debt was expected to close the financial year at Sh6.4 trillion. Kenya’s public debt as a percentage of GDP has risen to 55 per cent from 42 per cent when the Jubilee administration took over.

IMF has already taken note of the debt distress developments in Kenya and has revised Kenya’s debt distress from moderate to high due to the impact of the Covid-19 crisis, which has worsened existing vulnerabilities.

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