IBRD Trust Funds - World Bank

Published purpose

This project aims to implement a comprehensive sector-wide master plan to manage Kenya's nascent petroleum sector efficiently, transparently and responsibly, in order to maximize social and economic development benefits. The project paves the way for economic growth, contributing to poverty reduction and shared prosperity. Project activities include: 1) Provide technical expertise and support to the Government of Kenya for carrying out airborne geophysical and geochemical surveys and interpreting survey data; 2) Provide technical expertise to develop policies and regulations in contracts, finance, revenue management and social and environmental impact; 3) Provide technical expertise and support to Government of Kenya officials (Treasury and Central Bank) to design and operationalize a savings fund; 4) Provide technical expertise to develop and implement policies and legislation in support of private sector development, particularly for small and medium-sized businesses in potential growth areas for the supply of goods and services; and 5) Undertake pre-feasibility studies to prepare bankable business opportunities and assess and structure potential public-private partnership arrangements. The World Bank works in close collaboration with key government institutions, donor partners, and private sector and civil society representatives to help ensure the effective implementation of Kenya's Petroleum Sector Master Plan. Project beneficiaries are key government institutions responsible for oversight and accountability in the oil and gas sector, the private sector, including Canadian private companies operating in Kenya, civil society organization, and communities.