The Executive Board of the International Monetary Fund (IMF) has completed the Third review under the 38-month arrangements under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) arrangements.

The Board’s decision allows for an immediate disbursement of $235.6 million usable for budget support, bringing Kenya’s total budget support disbursements to about $1.2082 billion.

Kenya’s EFF/ECF arrangements aim to support Kenya’s program to address debt vulnerabilities, the authorities’ response to the COVID-19 pandemic and global shocks resulting from the war in Ukraine, as well as to improve governance and support broader economic reforms.