The Kenyan Treasury borrowed Sh223.5 billion ($2.23 billion) over four months from 11 new loans contracted with multilateral and commercial creditors.
- Sh30 billion was allocated for the preparation of refinancing the maturing Eurobond.
- Ten of the loans were acquired from multilateral lenders, while one came from a commercial lender.
- The loans’ total value is equivalent to Sh223.5 billion, with two loans already disbursed at the time of reporting.
- Kenya secured a syndicated term loan of Sh30.63 billion ($210 million) from the Eastern and Southern African Trade and Development Bank, repayable in US dollars.
- The Treasury also signed loans with the International Development Association (IDA) for strengthening governance and public investments, improving the financial viability of Kenya Power and Lighting Company, and other development projects.
- The Public Finance Management Act mandates the Treasury to report loan balances, drawings, and amortizations each quarter.