Explain five benefits which may accrue to Kenya by being a member of the African Development Bank (AFDB). (10 marks)

Benefits which may accrue to Kenya by being a member of the African Development Bank (AFDB)

Benefits that Kenya may enjoy by being a member of the African Development Bank (ADB/AFDB) include:

1. The country will obtain loans/credit for economic /social advancement/development.
2. Kenya will get technical assistance /expert advice/consultancy to strengthen and execute development programmes.
3. Kenya will get assistance in policy coordination / development formulation for effective implementation of projects.
4. The country will get technological assistance to utilize its economic resources.
5. The country will enjoy cooperation/support from regional economic institutions in Africa/internationally.
6. The country will gain from capital funding for public/private investment that boost development.
7. Promote better/effective use/management of funds/resources/accountability through oversight/monitoring by AFDB agencies.
8. Boosts the country’s credibility/image/credit standing - thus enabling it access more funds (from international lenders/development partners) since AFDB can guarantee the country for funding.
9. Kenya can get international platform/opportunity /forum - to promote its development agenda.
10. Cheap affordable credit/easy terms - due to low interest rates/longer repayment period.

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