European Union Gives Kenya Additional Ksh 7.8 Billion To Fight Covid-19

With Covid-19 in Kenya, money from other countries and organizations in the form of grants and loans is coming in.

By the time Covid-19 will be over, Kenya’s public debt will have ballooned, some few individuals with the government will be overnight billionaires and the poor will continue being poor.

The European Union has granted Kenyan an additional 7.8 billion shillings to help in the fight against Covid-19.

According to the European Union, the money is aimed at helping Kenya fight Covid-19 by helping Kenyans affected by hunger and unemployment, as well as supporting SMEs.

3.6 billion shillings have been set aside to help in minimizing resources towards the fight against Covid-19 in the economic, social, and health sectors.

1.2 billion shillings is set to be used in supporting the vulnerable families in the country including the elderly and the poor, as well as people living with disabilities.

2.4 to 3 billion shillings are set to be used to support small businesses by providing them with capital and help them cope with the biting pandemic that has seen most of them shut down.

READ: A Time For The Poor To Eat The Rich Is Here

Covid-19 has hit hard on the Kenyan economy with millions have lost their jobs, businesses shut and children out of schools. The government, however, seems to have no tangible plan to help salvage the economy.

It is estimated that at least 70 percent of employees in Kenya are either fired or at home on unpaid leave as firms move to cut down on costs. The majority of those who have lost their jobs are from the hotel industry.

Three major sectors have been greatly affected by Covid-19: hotel, transport, and SME sectors. The education sector is also hard hit with the government saying that educational institutions will remain closed for at least 3 months to come.

Are the billions being borrowed being put in good use or being looted as it is the norm?

READ: World Bank Gives Kenya Ksh 106 Billion As Soft Loan