WB launches dev strategy for Kenya

NAIROBI, June 24 (Xinhua): The World Bank Monday launched its new development strategy for Kenya aimed at boosting economic growth and creating more jobs for young people.

World Bank Country Director for Kenya Diarietou Gaye said the joint strategy by the Bank, IFC and MIGA was launched as a part of a sustained effort to help fulfil Kenya's ambitions of becoming a modern economy.

She said the five-year partnership strategy which was endorsed by the board on June 5 will help Kenya devolve power to regional communities in order to end extreme poverty and share prosperity among all Kenyans.

The strategy anticipates delivering over US$4.0 billion in the next five years to support Kenya to realise its potential to become one of Africa's enduring economic powers.

The WB's new strategy is aligned with the government's Vision 2030 priorities, which calls for rapid, sustained growth as the key driver in reducing poverty and creating opportunity for all.