KENYA - Economic Inclusion and Green Recovery Support Programme (EIGRSP), Phase I

Management submits the following proposal and Recommendation for an ADB Loan of one hundred twenty-seven million and two hundred thousand Euro (EUR 127,200,000) and ADF Loan of forty-five million UA (UA 45 million) to the Republic of Kenya to finance the Economic Inclusion and Green Recovery Support Programme (EIGRSP). The EIGRSP is designed as programmatic series of three consecutive General Budget Support Operation covering the fiscal years (FY) 2024/25 -2026/27. The proposed loan is the first of a three-year series designed in response to a request submitted to the Bank by the Government of the Republic of Kenya in August 2024. It was prepared in consultation with the International Monetary Fund (IMF), the World Bank, the European Union, the European Investment Bank, and other development partners (DPs).The OPEC Fund will use the Bank’s policy reform matrix and the same prior actions to co-finance the program with Euro 60 million.