According to KBC, the World Bank has backed the use of Kenya's National Infrastructure Fund to help ease the country's debt pressure by allocating some proceeds to retire expensive debt.
KBC reports that the World Bank stated Kenya's public debt remains elevated due to growing domestic borrowing, which increased to account for 56.2% of total debt by the end of a recent period.
The World Bank suggested Kenya could reduce its high public debt distress through this approach, according to KBC.
Source: KBC