Zim Now Writer
Kenya intends to raise US$1 billion through a debt-for-food security swap by March 2026, according to a finance ministry document released on Tuesday.
The document did not specify the partners involved in the swap.
Finance Minister John Mbadi told Kenyan broadcaster NTV in April that the government was in advanced discussions with the World Food Programme on such a swap.
Debt-for-food security arrangements allow a country to replace existing debt with lower-cost financing, with the savings earmarked for food-related programs.
The document also revealed that Kenya plans to borrow an additional UD$500 million via sustainability-linked bonds by March 2026.
This is alongside planned borrowings from the World Bank: US$757 million by March next year and another US$457 million in June.
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