President William Ruto’s government has borrowed billions of money to enable smooth running of key development projects in the country.
As reported by Kenyans.co.ke the government has borrowed Ksh 68 billion in 3 months. This was revealed in a report tabled in the National Assembly by the Treasury Cabinet Secretary John Mbadi submitted on Thursday 13th February.
The government acquired these loans to majorly enable infrastructure development, curb climate change issues and also to cover the national budget, among other reasons.
Ksh 20 billion was borrowed from a credit facility in Italy on 14 October 2024 and is due by 2045. The German government facilitated Ksh 8 billion and the loan is due in 2042.
The French government facilitated Ksh 4.8 billion on 3rd October 2024. The loan is due 25th January 2045. The China Development Bank gave Ksh 4.5 billion, Ksh 3.9 billion, Ksh 2.79 billion, loan to be repaid by 15th Apri
By Newsmedia