Kenya Climbs to Fourth Largest Recipient of AfDB Project Funds

Kenya has climbed to the fourth-largest recipient of African Development Bank (AfDB) project funding in 2024, leaping from ninth place the previous year. The AfDB approved UA 442.5 million (about $577 million or Sh74.5 billion) for Kenyan projects — a sharp 52.7% increase from UA 290.4 million in 2023. This places Kenya behind only South Africa, Nigeria, and Morocco, but ahead of Egypt.

The funding surge supports key infrastructure in energy, roads, and water, including the Kenya-Ethiopia electricity transmission line, the Lake Turkana Wind Power project, and the Kenol-Sagana-Marua road. With Kenya facing debt pressures and revenue constraints, the increased AfDB support highlights the bank’s growing role as a strategic development partner and is expected to deepen further in 2025 with new approvals already lined up.