(MENAFN)
The central bank of Kenya has issued a total of USD70 million in financial aid to support the government in its fight against the outbreak of coronavirus
Patrick Njoroge, the governor of the bank, said that the money has been obtained through a demonetization exercise that was put into practice since June 2019 that was aimed at dealing with banned financial flows and the rising counterfeit cash risk.
The governor was quoted saying at a meeting with President Uhuru Kenyatta that "As you recall in September 2019, we concluded the demonetization of our currency relating to our old generation 1,000 banknotes. That matter was concluded and as a result, Sh7.4 billion worth of banknotes never came back to the system".
He said that the bank is going to use the money to support the Kenyan government in fighting the coronavirus outbreak.
The president thanked the central bank and said that the funds are going to be allocated to helping Kenyan citizens in the ongoing health crisis, he said that "That money goes to help our health facilities and our health workers. That again is something we appreciate and this is what I mean when I say Kenyans working together can achieve miracles".
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