The African Development Bank (AfDB) has approved KSh10.9 billion loan to support Kenya’s push for cleaner procurement processes.
According to the bank, some of the funds would go towards supporting the adoption of an electronic procurement system for government goods and services to improve transparency in public procurement to curb graft.
“Building on the reforms supported by the Bank under the first phase, the second phase of the CERSP (Kenya’s Competitiveness and Economic Recovery Support Programme) will support Kenyans in their efforts for greater transparency in public sector dealings by heralding the adoption of an electronic government procurement system by mandating companies that participate in public procurements to disclose their beneficial ownership information to the procuring entity/contracting authority,” Business Daily quotes AfDB.
AfDB is the latest support for Kenya from multilateral lenders including the International Monetary Fund (IMF) and the World Bank.
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