The National Assembly is seeking to strip the Treasury of unilateral authority to commit public funds to the East African Development Bank (EADB), handing Parliament greater oversight over Kenya's financial obligations to the regional lender.
A new Bill sponsored by Majority Leader Kimani Ichung'wah proposes amending the East African Development Bank Act to require the National Assembly’s approval before Kenya subscribes additional capital or guarantees fresh financial commitments.
The proposal is set to significantly tighten parliamentary control over taxpayer-funded contributions to the regional development bank following years of questions over undisclosed payments and oversight of Kenya's obligations.
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