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Disclosable Restructuring Paper - Kenya Petroleum Technical Assistance Project (KEPTAP) - P145234 (Inglês)

The objective of the Kenya Petroleum Technical Assistance Project is to strengthen the capacity of the GoK to manage its petroleum sector and wealth for sustainable development impact. This restructuring will address a disbursement challenge posed by the current configuration of KEPTAP's disbursement Categories 9 and 10. Currently, category 9 is 88 percent financed by the Credit and 12 percent by the Grant, while category 10 is 84 percent financed by Credit and 16 percent by the Grant. The Credit and the Grant have varied closing dates, which presents a risk of undocumented expenditures at project closure if activities under the two categories are not completed and paid for within the Grant’s timelines. The Grant funds has US$0.268 million currently available which is not sufficient to cover the 12 percent assignable to the Grant under Category 9, which amounts to US$0.924 million. KEPTAP is not co-financed by the Government of Kenya and therefore has no budget allocation to cater for any shortfalls. To address these two issues, a restructuring is proposed allow for the: i) reconfiguration of category 9 to 100 percent credit, and ii) the reconfiguration of Category 10 to 100 percent grant.

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