World Bank approves USD390m financing to Kenya
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World Bank approves USD390m financing to Kenya to boost the first phase of the country's digital economy
World Bank approves USD390m financing to Kenya to boost the first phase of the country’s digital economy.
The World Bank has announced that it has approved USD390 million in financing for the first phase of a program in Kenya that intends to increase access to high-speed internet, enhance the quality and delivery of education and some government services, and develop skills for the region’s digital economy.
The Kenya Digital Economy Acceleration Project will use a multi-phase programmatic approach with two phases.
The first phase, which will last from 2023 to 2028, will concentrate on increasing high-speed internet access, enhancing the quality and delivery of selected government services, and developing skills for the local digital economy. The second phase, which will last from 2026 to 2030, will concentrate on creating a data-driven and secure environment for improved digital service delivery and innovation for the regional digital economy.
The project will also mobilize an estimated USD100 million in private capital by crowding in the private sector for broadband infrastructure development.
The project will increase access to broadband through an expansion of the fibre-optic backbone and last-mile connectivity to government and learning institutions, as well as along Kenya’s borders, benefiting the regional digital market.
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‘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,’ said Keith Hansen, World Bank Country Director for Kenya, Rwanda, Somalia and Uganda, adding: ‘The Kenya Digital Economy Acceleration Project aims to help make Kenya’s growth more equitable by shrinking disparities in digital skills and connectivity, and expanding the digital marketplace.’
Tim Kelly, Lead Digital Development Specialist at the World Bank commented: ‘
The initiative will increase last-mile connectivity by boosting broadband network coverage for over 70% of Kenya’s population that resides in rural and underserved areas…
Kenya’s digital agenda, reflected in the ambitious ICT Master Plan, aims to transform the country into a regional ICT hub by increasing fibre-optic coverage to 100,000km and digitizing 80% of public services.’
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