Kenya - Public debt management support project (PDMS)

The Public Debt Management Support Project (PDMS) will finance technical assistance and capacity building activities to address capacity and knowledge gap in identified areas for effective public debt management and borrowing in Kenya. It falls under the country’s medium-term development goal as outlined in the Third Medium Term Plan (MTP III 2018–2022), aims at transforming the economy to achieve inclusive and broadbased economic growth. The project will enhance the capacity of the National Treasury (NT) to better balance the government's financing needs and its payment obligations over the medium to long run, consistent with a prudent degree of risk. Reducing vulnerabilities to risks of public debt and maintaining debt within sustainable levels is critical for Government’s efforts to attain fiscal consolidation policy in order to safeguard macroeconomic stability and reduce the pace of growth of the public debt. It is structured around two components to support the Government’s efforts in addressing these challenges; namely: (i) Strengthen public debt management functions; and (ii) Strengthening institutional capacity for transparent, accountable, and results-based debt management. The project will be implemented over a period of 24 months. The estimated total cost is USD 1,385,680, of which the Bank will provide UA 800,000 (USD 1,110,080), to be funded under the MIC TAF.