The European Union has signed an agreement to commit KSh2.9 billion, geared towards boosting Kenya’s public finance planning kitty. This happened at the ongoing 9th African, Caribbean and Pacific (ACP) summit in Nairobi.
According to Treasury CS Ukur Yattani, the program will promote macro-fiscal stability and also service delivery in the country. This will be possible through successful implementation of the PFM strategy 2018-2023.
The program is under EU’s 2019 Action Plan to support Public Accountability and Service Delivery (PASEDE).
We note with appreciation the allocation of €26 million (KSh2.9 billion) committed by the European Union in its Action Plan 2019. This will thus support the PASEDE, whose financing agreement has just been signed.Treasury CS Ukur Yattani
Additionally, the EU also provided additional funding of KSh560 million to support political dialogue, which is part of the Action Plan 2019.