By EDWIN MUTAIMore by this AuthorKenya borrowed Sh430.6 billion in the five months to June, highlighting the Jubilee administration’s appetite for foreign money to finance mega infrastructure projects. The Treasury signed a total of 29 new loans involving bilateral, multilateral and commercial creditors. The World Bank recently warned that the country’s growing appetite for loans, especially Chinese debt, risks hurting the economy. The country contracted Sh146.9 billion syndicated loan facilities from Citi Bank and PTA Bank for budgetary support in funding of infrastructure development. The report, tabled by the National Assembly Leader of Majority Aden Duale, shows that out of the Sh430.6 billion of the new loans, Sh156 billion from two commercial creditors have been disbursed.

Source: Daily Nation September 13, 2017 18:56 UTC