World Bank Trims Commercial Funding for Kenya’s Housing Program

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000The World Bank has slashed by almost two thirds the amount of money it planned to help Kenya mobilize from commercial lenders for the nation’s housing and land reform programs.Commercial lenders will now provide $360 million, down from an earlier $900 million target, according to latest World Bank disclosures. In total, the lender will now help Kenya raise $910.3 million, whereas it was initially expected to arrange a total $1.35 billion.