Kenya to borrow Sh53b from foreign banks
14 December 2011, 12:50
Nairobi - Capital News reports that Finance Permanent Secretary Joseph Kinyua disclosed on Tuesday that the government plans to borrow Sh53.2billion ($600 million) from international banks early next year.
The short term loan, which is expected to be given on competitive rates, will be used for infrastructure financing.
This move follows the government's suspension of plans to float a sovereign bond through which it had intended to raise Sh26.7 billion ($300 million).
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