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Co-op Bank set to disburse State funds meant for vulnerable groups

April 20, 2020
in Business, News
Reading Time: 1 min read
Co-op Bank stock projected to hit target price of Sh21.40 in near future
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Co-operative Bank of Kenya will Monday begin disbursing part of Sh8.75 billion State funds  to the elderly and poor groups under the cash transfer programmes run by the Ministry of Labour and Social Protection.

The money, meant to cushion the vulnerable groups from the negative effects of the Covid-19 pandemic, will be paid to one million people.

In statement sent to newsrooms yesterday, the PS Ministry of Labour, Nelson Marwa said each beneficiary would receive Sh 8,000 payment for months of January- February and March- April.

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Marwa also said the government would also release Sh500 million owed to persons living with disabilities as directed by President Kenyatta last week.

“The Ministry of Labour has adopted a multi-agency approach in the payment process in Ministry of Interior, county governments, Ministry of Health, elected leaders and ministries to ensure seamless coordination,” said Marwa.

 

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