Daily Archives: February 3, 2015
IMF Executive Board Approves US$497.1 Million Stand-by Arrangement and US$191.2 Million Stand-by Credit Facility for Kenya
NAIROBI, Kenya, February 3, 2015/African Press Organization (APO)/ — On February 2, 2015, the Executive Board of the International Monetary Fund (IMF) approved a SDR 352.82 million (about US$497.1 million) Stand-By Arrangement and a SDR 135.7 million (about US$191.2 million) arrangement under the Stand-By Credit Facility1 (SBA/SCF) for Kenya for a combined SDR 488.52 million (about US$688.3 million or 180 percent of Kenya’s quota).
Abstract: The use of information technologies in the economy improves operational efficiency of companies. The Internet became an essential tool for successful trading in local and international markets. A new concept of e-business will have significant impact on the future economic development of the country. The establishment of the Ministry of e-business would be a big step towards innovative development of the state.