In Summary
  • The, according the National Treasury, will be used to finance various development projects.

  • The report tabled by Leader of Majority Aden Duale shows that the amount will come from the 29 loans signed between the government and bilateral, multilateral and commercial creditors.

The government borrowed over Sh430 billion between February 1 and June 30 this year, a report tabled in the National Assembly shows.

The, according the National Treasury, will be used to finance various development projects.

29 LOANS

The report tabled by Leader of Majority Aden Duale on Wednesday shows the amount will come from the 29 loans signed between the government and bilateral, multilateral and commercial creditors.

The document notes that some Sh156 billion worth of the loans from commercial creditors— PTA Bank and a consortium of lenders comprising the Standard Chartered Bank, Standard Bank, CITI Bank and Rand Merchant bank—has already been disbursed.

Disbursements from other bilateral and multilateral lenders are expected over the medium term, the document states.

The report comes amid concerns over Kenya's growing appetite for loans, with some pundits arguing that the country may be borrowing more than it can sustain.

The National Treasury has dismissed the claims.

The loans are mainly to fund infrastructure projects, including roads, irrigation, water supply, energy, health and education.

KENYA POWER

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