The World Bank is set to approve a loan for the implementation of the second phase of the Kenya Social Economic Inclusion Project (KSEIP).
A review of documents published by the Bretton Woods institution by Kenyans.co.ke revealed that the board members are expected to have a sitting on October 15, to deliberate on the approval of the funds.
The Bank is expected to inject Ksh26 billion (USD200 Million) into the project if the funds are approved during the October sitting.
KSEIP is a project through which the government aims to disburse funds for senior citizens and vulnerable individuals in society.
Furthermore, the World Bank further noted that the project is in its Concept Review Stage where the Bank would consider alternatives towards the implementation of the second phase.
Additionally, the projects will be under the Ministry of Labor and Social Protection and the National Drought Management Authority.
The disbursement is expected to be used for the financial year 2025 beginning July 1, 2025, and where the funds will be disbursed to vulnerable and older generations in social support.
On the other hand, the Ministry of Labour Social Protection issued notices advertising for the positions of consultants to aid in software development and financial services ahead of the second implementation phase.
Meanwhile, the government has been utilising the funds already disbursed in the 2024 financial year.
“The Government of Kenya has received financing from the World Bank towards the cost of the Kenya Social Economic Inclusion Project-KSEIP and intends to apply part of the proceeds for consulting services,” read the notice.
This announcement comes after the government registered senior citizens for monthly stipends in September 2023.
President William Ruto, presiding over a cabinet meeting on August 8 2023, reaffirmed the government's commitment to upholding the dignity of senior citizens through the Inua Jamii Program.
The Inua Jamii program targets to reach more than 2 million elderly Kenyans in the monthly disbursements.
