Kenya: Loan to assist state in oil, gas

A World Bank unit had loaned Kenya $50 million (R525m) at zero interest to support the state’s efforts to build capacity to manage the emerging oil and gas industry, the bank said last week. Kenya has out-of-date laws governing the industry and needs to develop skills to handle new contracts and build the sector. The World Bank’s International Development Association said its loan would support the Kenya Petroleum Technical Assistance Project, which aims to draw in private investment. – Reuters