Kenya is expected to receive access to about $400 million in emergency financing from the World Bank within six weeks, according to a source familiar with the discussions, as the country prepares for overlapping health, weather and economic risks.

The financing would be provided through the World Bank’s Rapid Response Option, a mechanism that allows countries to redirect part of their existing lending portfolio quickly when an eligible crisis occurs.

Kenya initially sought the facility after the sharp rise in global energy prices put additional pressure on public finances. The planned response has since widened to cover the danger of a regional Ebola outbreak and possible disruption from El Niño conditions.

A World Bank spokesperson said the institution was helping Kenya finalize a framework for rapid access in the event of an eligible emergency, including shocks connected to the Middle East conflict and El Niño. Kenya’s finance ministry did not immediately comment on the report.

The package could support health services, agriculture, water resources and broader economic stabilization. Severe rainfall associated with El Niño has previously damaged Kenyan crops, roads and homes, while disease outbreaks in neighboring countries create additional pressure on preparedness systems.

Rapid Response Option financing is generally capped at 10% of a country’s undisbursed World Bank lending portfolio. Kenya’s total project portfolio with the lender exceeds $7 billion, providing the basis for an amount estimated at roughly $400 million.

The two sides are finalizing a Contingency Emergency Response Project that will set the terms of access. The final figure will depend on the undisbursed balance when the documentation is completed, but relevant underlying projects have already received World Bank board clearance.

Source: Reuters, including comment from a World Bank spokesperson.

Featured photo: Murad Swaleh/Unsplash.