A restrictive clause in the standard gauge railway (SGR) loan agreement has left Sh44.6 billion collected from passenger fares and freight charges sitting idle in several accounts at KCB Bank, triggering calls for a review of the credit terms.
Kenya and China’s Eximbank inked a loan deal in 2014, which demands that revenues from SGR operations are deposited into a joint account at KCB as security against repayment default.
