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Kenya ends Sh21bn WB loan deal

Kenya’s public debt as a percentage of gross domestic product has increased to 55 percent from 42 percent when President Kenyatta took office in 2013. FILE PHOTO | NMG

By  Bonface Otieno

Nation Media Group

Business Reporter

Kenya has terminated a $207.4 (Sh21.4 billion) loan deal with the World Bank for road upgrades following delays in execution of the projects.

The lender says Kenya opted to cancel the loan deal inked in 2012 and involved the multilateral lender providing $300 million (Sh31 billion) and the Treasury topping up $113 million (Sh11.6 billion) for roads upgrades in Nairobi and other urban centres.

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