The World Bank, through the International Finance Corporation (IFC), is undertaking an impact assessment of the Hustler Fund to establish how the credit programme has helped Kenyans.

🇰🇪 Breaking It Down

The assessment will provide a comprehensive picture of the fund’s impact, with both quantitative and qualitative aspects examined to determine how beneficiaries have used the loan and saved.

Speaking during an interview on NTV on Tuesday, September 1, Cooperatives Principal Secretary Susan Mang’eni said the World Bank had begun conducting the assessment, with the report expected by the end of 2026.

“Recently, the World Bank came in with the support of IFC, and they have been undertaking a quantitative assessment of the fund and an impact assessment of the fund,” Mang’eni said.

📌 What You Need to Know

The latest World Bank assessment comes about three years after the Bretton Woods institution pledged full support for the government-backed credit programme.

In 2023, the bank's representatives led a consultative meeting with President William Ruto to discuss ways of supporting the Hustler Fund to empower vulnerable Kenyans.

World Bank Regional Vice President for Eastern Africa, Victoria Kwakwa, said the lender would provide technical and financial support to the Hustler Fund and other government-backed lending programmes.

“The bank associates strongly with programmes and initiatives that empower the poor and most vulnerable. We will bring to the table ways to provide a safety net for these individuals,” she said.

At the time, Ruto acknowledged the World Bank's role in Kenya’s development and called for increased investment in programmes to improve agricultural productivity.

Meanwhile, the latest assessment comes as the government claims the Hustler Fund has reached about 28 million Kenyans since its establishment, with close to 10 million borrowers now using the facility regularly.

📰 Source: Kenyans.co.ke