The National Treasury has established the Public Finance Management Regulations for the year 2020 which will see the setup of an emergency fund to fight the coronavirus pandemic.
Treasury CS Ukur Yatani said the fund will be used to mobilise resources for an emergency response towards containing the spread, effect and impact of the disease.
The fund will also be used to purchase the essential supply for public hospitals and other related institutions, health professionals and front-line workers.
It will also be used to support and stimulate micro, small and medium enterprises which have been rendered vulnerable by the disease.
This comes a day after President Uhuru Kenyatta constituted a 10-member board to oversee the fund.
The board will play a key role in fostering the national response to the pandemic.
The board will be chaired by Jane Karuku and its members include acting Safaricom CEO Micheal Joseph, Equity Group chief executive James Mwangi, Dr Narenda Raval, KCB CEO Joshua Oigara and Absa Bank Kenya PLC managing director Jeremy Awori.
Others are Royal Media Services MD Wachira Waruru, Mohammed Hersi and Kenya Association of Manufacturers CEO Phyllis Wakiaga.
While Kennedy Kihara will be the secretary to the board, Uhuru has designated Interior CS Fred Matiangi and the Chairperson Council of Governors Wycliffe Oparanya as joint representatives of the government.
The fund will also be used to restore facilities for compulsory quarantine for safe use by the hosting institutions.
CS Yatani said the fund will also be used to enhance the capacity of the relevant research institutions used in handling Covid-19 surveillance as well as funding other emerging issues from the pandemic.
