The Central Bank of Kenya (CBK) has today released Shs 7.4 billion to support Government efforts to contain the spread of Coronavirus in the country.
Speaking at State House, Nairobi, during President Kenyatta’s meeting with the private sector, CBK Governor Dr Patrick Njoroge said the money was gained from the mop-up of the old 1000 shillings bank notes.
Dr Njoroge said the bank is giving back the money to boost the government’s efforts to combat the Coronavirus pandemic. President Kenyatta thanked CBK for the contribution and directed Treasury Cabinet Secretary Ukur Yattani to ensure the money is used to support Kenyans to overcome the current health crisis. Our reporter Alice Diana has more details on this story
During the meeting, the President announced a further Shs 1 billion allocation by the Government for hiring of more health workers needed to increase the country’s capacity to deal with the Coronavirus pandemic.
He said the additional funds will ensure the government brings on board enough manpower to support those already in the field working to save lives.
The President’s meeting with the private sector representatives discussed a raft of other measures being taken to cushion the country from the effects of the Coronavirus pandemic.
Key among the interventions is an announcement by the Head of State that outstanding VAT refunds and pending bills would be settled within 30 days.
The President said VAT refunds and settlement of pending bills will help improve cash flow and keep businesses afloat.
Following yesterday’s directive, the Head of State said the Government had released 400,000 litres of ethanol, impounded by the multi-agency team on contraband goods, to oil companies for the blending of hand sanitizers to be distributed free of charge to the public.
On its part, the private sector, through the Kenya Private Sector Alliance (KEPSA) Chairman Nick Nesbitt and CEO Carole Kariuki, committed to continue protecting Kenyan employees against job losses and safeguarding SMEs from the adverse effects the current crisis by ensuring business and supply chain continuity.
The private sector further committed to prioritize the health and safety of employees, communities and health workers through increased Corporate Social Responsibility activities.