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The World Bank must ensure every borrowed dollar is visible, traceable and accountable. [Courtesy]
The World Bank was established to reduce poverty and promote shared prosperity. That mission remains as relevant today as ever. Yet in many developing countries, including Kenya, the gap between financing and development outcomes continues to widen. Without strict accountability, development loans risk becoming instruments of political convenience rather than tools of transformation.
In principle, the bank provides capital for essential public goods — schools, hospitals, roads, energy systems and water infrastructure. In practice, however, the chain between borrowing and delivery is often weakened by weak oversight, political interference and poor transparency. Funds are approved in Washington, disbursed through national treasuries, and then absorbed into systems where accountability is uneven at best. By the time projects reach the ground, traceability is often diluted.
Kenya presents a clear illustration of this challenge. Public debt has risen sharply in the past decade, with debt servicing now consuming a significant share of ordinary revenue. Yet development outcomes have not always matched the scale of borrowing. Auditor-General reports continue to highlight irregular procurement processes, unsupported expenditures and incomplete documentation across several government projects. These are not isolated administrative errors; they point to structural weaknesses in public financial management.
