World Bank approves $390 Million to Boost Kenya’s Digital Economy

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The World Bank Group Board of Directors has approved $390 million (about Sh 52.1 billion) in financing to support Kenya’s digital economy.

The funding is part of the Kenya Digital Economy Acceleration Project, which aims to expand access to high-speed internet, improve the quality and delivery of education and selected government services, and build skills for the regional digital economy.

The project is expected to be implemented in two phases. Phase 1, which will run from 2023-2028, will focus on expanding access to high-speed internet, improving education and government services, and building skills for the digital economy. Phase 2, which will run from 2026-2030, will concentrate on building a data-driven and secure environment for enhanced digital service delivery and innovation.

Keith Hansen, World Bank Country Director for Kenya, Rwanda, Somalia, and Uganda, highlighted the importance of digital technologies and services for economic growth, job creation, service delivery, and resilience.

He stated, “Broadening access to digital technologies and services is a cross-cutting pathway to accelerate economic growth and job creation, improve service delivery and build resilience.”