Funding Agencies in Kenya ($1) Introduction At the end of the 1980`s the international countries resolved to form an International Monetary Fund (IMF), which could assist the developing countries ...

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Funding Agencies in Kenya ($1)
Introduction
At the end of the 1980`s the international countries resolved to form an International Monetary Fund (IMF), which could assist the developing countries to at least have somewhere to borrow money not only depending on World Bank alone. These two organizations became the best Fund donors to the developing countries and Kenya became one of the beneficiaries. Although, criticism has been alarmed over the performance of the funds in developing countries, Kenya in particular has continued to borrow funds and getting donations from both the World Bank and IMF. IMF in particular, started the lending to developing countries in 1999 where the motion was referred to as Poverty Reduction and growth Facility to the developing countries. This paper entails the benefits of the debt and donations made by IMF and the World Bank on the Kenyan economy both in social expenditure, economic growth and Income distribution.
Kenya as a country faces the balance of the payment deficit; this has made her to resolve in borrowing money from IMF and World Bank. The funds borrowed has made the contribution to both social and economic growth, though, still it has paused a lot of challenges to the government of Kenya .This is seen from the leaders and also from the citizen who are corrupt . Corruption is one of the factors that has made the country to go for more funds from the two institutions some of the scandals seen by the Kenyan government is the Kitchen gate scandal and also the loss of the National Youth Service funds as reported by the local business and standard media papers early this year.The funds were from the Kenyan budget of the year and others were from the foreign aid from the World Bank. This clearly shows that the increased fund increases the debt in the country leaving people to pay the debt and almost 60% of them remaining below poverty level. Therefore, the Kenyan government is unable to eradicate creation of a larger debt. These has led to less development of the country in different aspects such as social development, poor economic development and above all poor governance hence, poor political development.
The citizen`s health is a key factor to development of the country`s economy. There is great importance of having the good health among citizens. When citizens have good health there is high rate of participation in research and development in the country. The research is important for the country`s economy because it helps In eradication of emerging diseases and even the persisting d