Kenya has secured a commercial loan of USD 500 mln from international banks. Initially, the government had requested USD 600 mln but received USD 500 mln from the syndicate, which includes American Citibank, British Standard Chartered Bank, Stanbic Bank, and South Africa’s RMB Holdings Ltd. This development coincided with the World Bank’s announcement of a USD 1 bln loan to Kenya, bringing the country’s total foreign financing in May to USD 1.5 bln. These funds form part of the USD 2 bln that the national treasury aimed to obtain between May and June to strengthen its financial standing, stabilize the shilling’s exchange rate, and boost FX reserves, which are below the statutory four months of import cover.