The European Union (EU) has given an additional KSh 7.8 billion to Kenya to help avert hunger and strengthen COVID-19 countermeasures. The fund will help mobilize resources to fight the pandemic and provide working capital for SMEs. The support program is part of a team response where the EU and its member state support Kenya during the crisis.
Half of the funds will benefit the health sector and the socio-economic sector. EU will provide KSh 3.6 billion to support efforts in these sectors through government budget support. Additionally, vulnerable families in informal settlements will benefit directly through a KSh 1.2 billion cash transfer program.
The program will help protect jobs through a KSh 2.4 billion package, which will provide short-term working capital to SMEs. Later, this fund will help gear up investments as businesses recover from the pandemic. KSh 600 million will be used to maintain essential supply chains for food and medicine.
Previously, the EU gave KSh 8.4 billion to support Kenya’s efforts to fight the pandemic in informal settlements. Overall, the union is providing over KSh 35 billion to support the country’s initiatives during the pandemic, strengthening its partnership with Kenya.
“Today, through these support programs, we are making a real difference to local communities across the country as well as in Nairobi’s informal settlements who are most affected by the outbreak, strengthening our partnership with Kenya.”‘ Simon Mordue, EU Ambassador to Kenya, commented in a press release.