Kenya to pay new World Bank loan for 30 years

Treasury Cabinet Secretary Henry Rotich. FILE PHOTO | NMG

The latest Sh75 billion loan advanced to Kenya by the World Bank will saddle taxpayers with debt for 30 years, adding the burden on future generations to repay the country's mounting loans.

The World Bank disclosed Thursday that the loan will be repaid until 2059 and that it has allowed the Treasury to start paying the principals in 2024, easing the quarterly repayment costs.

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