The Central Bank of Kenya (CBK) recently released Sh 7.4 billion to support government efforts to tackle the spread of COVID-19 in the country. The amount is the same that did not return to the banking system when the country undertook a demonetisation drive in September last year mopping up old Sh 1,000 notes, according to CBK governor Patrick Njoroge.
Njoroge was speaking at State House, Nairobi, during President Uhuru Muigai Kenyatta’s meeting with private sector representatives recently. The meeting discussed a slew of measures being taken to cushion the country from the effects of the novel coronavirus pandemic.The Central Bank of Kenya (CBK) recently released Sh 7.4 billion to support government efforts to tackle the spread of COVID-19 in the country. The amount is the same that did not return to the banking system when the country undertook a demonetisation drive in September last year mopping up old Sh 1,000 notes, according to CBK governor Patrick Njoroge.#
President Kenyatta thanked CBK for the contribution and directed treasury cabinet secretary Ukur Yattani to ensure the money is used to support Kenyans to overcome the health crisis.
During the meeting, the president also announced a further Sh 1 billion allocation by the government for hiring more health workers needed to increase the country’s capacity to deal with the pandemic, according to Kenyan media reports.
Key among the government interventions is settling of outstanding value-added tax refunds and pending bills within 30 days.
Fibre2Fashion News Desk (DS)
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