Kenya Seeks World Bank Support to Cushion Iran War Impact
Kenya has requested rapid financial assistance from the World Bank to help manage economic shocks stemming from the ongoing Iran conflict, the country’s central bank governor said.
Speaking during the IMF–World Bank Spring Meetings, Central Bank Governor Kamau Thugge said the request is aimed at cushioning the impact of rising global energy prices and supply disruptions triggered by the war.
Kenya, which relies heavily on imported fuel, is facing increased pressure from higher oil costs, inflation risks, and potential shortages of key commodities. The government is seeking additional financial support to stabilise the economy and maintain growth momentum.
Despite the challenges, the central bank said the country has built up foreign exchange reserves of over $13 billion, providing about 5.8 months of import cover, which could help cushion currency volatility in the short term.
Officials noted that the requested funding would complement existing financial arrangements already under discussion with the World Bank, rather than replace them.
The development highlights the growing economic ripple effects of the Iran conflict on African economies, particularly those dependent on energy imports, as governments move to secure financial buffers against global shocks.
