UHURU and RUTO going for another 250 billion Eurobond loan and Kenyans are just happy-No nonsense CS Fred MATIANG'I in the mix

DAILY POST: UHURU and RUTO going for another 250 billion Eurobond loan and Kenyans are just happy-No nonsense CS Fred MATIANG'I in the mix News 04:42

Thursday January 24, 2019-Kenya has embarked on a hunt for another Eurobond valued at Kshs250 billion.

Already, Treasury Cabinet Secretary, Henry Rotich, has sent out proposal seeking advice from international banks over the loan expected before the end of the current financial year. “We have received the RFP documents as we study the market but they do not set the rates or the tenors for the Eurobond.” “The minimum we expect the Treasury to raise is Ksh150 billion,” said the local banks linked to international lenders. According to the banks, the State is likely to prefer this kind of loan since it is cheaper compared to the syndicated type it borrowed last time. The loan is, reportedly, expected to partly repay the Kshs150 billion Eurobond while the rest finances the national budget. This is even as the first Eurobond still remains a mystery as Kenyans cannot pin point the exact projects that the money funded. But Kenyans are excited nonetheless after the appointment of the no nonsense Interior CS, Fred Matiang’i, as Chief Minister in charge of all Government projects and hope that he will oversee the prudent use of the Eurobond loan.

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