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The reviews are expected to be completed by September 2018
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WASHINGTON D.C., United States of America, March 15, 2018/ — On March 12, 2018, the Executive Board of the International Monetary Fund approved Kenyan authorities’ request for a 6-month extension of the country’s Stand-By Arrangement to allow additional time to complete the outstanding reviews. The reviews are expected to be completed by September 2018. Completion of the reviews will enable the Kenyan authorities to have access to funds available under the precautionary SBA. The SBA was approved on March 14, 2016 for 24 months. Today’s Board’s decision was taken without a formal Board discussion. In support of this request, the authorities have committed to policies that will enable them to achieve the program objectives, including reducing the fiscal deficit and substantially modifying interest controls. The Executive Board takes some decisions without a meeting when it is agreed by its members that a proposal can be considered without convening formal discussions. |
![The signing ceremony took place in Kisumu, with Governor Prof. Anyang’ Nyong’o representing the county government and UN-Habitat Executive Director in Kenya, Anaclaudia Rossbach, signing on behalf of the UN agency. Under the agreement, both parties commit to jointly implementing the housing upgrade project, which Governor Nyong’o said will primarily target vulnerable groups. “The PINUA programme [is] designed to benefit the most vulnerable members of the community,” Nyong’o said, reaffirming his administration’s commitment to fostering sustainable neighborhoods equipped with essential services. Beginning November 1, 2025, the county government, working with UN-Habitat, will launch pilot projects in Kibuye Estate and Muhoroni Sub-County, based on designs and models developed through extensive public participation. The programme will focus on upgrading informal settlements by providing essential social infrastructure such as schools, sanitation facilities, affordable rental housing, early childhood development centres, and public open spaces. It also supports incremental housing models, allowing families to progressively build and eventually own decent homes. Rossbach emphasized UN-Habitat’s global commitment to driving transformative change in urban areas: “This partnership is crucial in advancing our new strategy, which focuses on improving housing access and digitally transforming informal settlements for everyone.” According to UN-Habitat housing architect Fred Omenya, the pilot phase will begin in January 2026 with the construction of two blocks of 24 housing units in Kibuye Estate.](https://businessinsights.africa/wp-content/uploads/2025/10/About-us-still-25957706200_7ca2db7e5e_k-100x70.jpg "Kisumu, UN-Habitat sign Ksh2.7bn deal for social housing upgrade")
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