President William Ruto has welcomed World Bank’s move to support the Hustler Fund in cushioning the vulnerable in society.

This comes after the Head of State held a meeting at Statehouse with a delegation from World Bank led by Regional Vice President for Eastern and Southern Africa Victoria Kwakwa on Tuesday at State House, Nairobi.

“We appreciate the decision of the World Bank to recognise the Hustler Fund in cushioning the vulnerable in the society,” said President Ruto.

He said the technical assistance from World Bank will go a long way in making the fund more inclusive and transformative to millions of ordinary Kenyans.

On her part, Kwakwa acknowledged the Bank’s work-in-progress climate resilience agenda that is based on the current drought.

The Government is set to review the borrowing history of close to six million subscribers to enable them access more money.

President William Ruto said the Hustler Fund will review its 18 million user's borrowing history after every four months and award them with a financial grade.

He explained that the financial grade will determine their loan limit based on how they regularly borrow and repay.

"At the end of this month, every borrower will be awarded a financial grade. This will explain what makes one have a good grade," said the President.

The President also announced the launch of a new product,  Hustler Fund Micro Credit, that will allow saccos and groups to borrow on behalf of their members.

"By the end of this month, the Hustler Fund will have a second product that will help those in Sacco and groups to also access low interest credit and help members grow their businesses," he said.