Kenya will from Thursday pay billions of shillings to China after a five-year grace period that Beijing had extended to Nairobi for the loans used to build the standard gauge railway (SGR) line ended on Tuesday.
Repayment of the principal loan extended to Kenya for the first phase of the mega railway project kicks off this week, according to an agreement signed with Exim Bank of China on May 11, 2014.
This is expected to add to the growing load on Kenyan taxpayers for costs related to the multi-billion shilling SGR line from Mombasa to Nairobi given that the Treasury has been servicing interest charges on the Chinese debt...
Burden on taxpayers as Kenya Treasury starts repayment of SGR loan
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John Ashworth
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Burden on taxpayers as Kenya Treasury starts repayment of SGR loan
Burden on taxpayers as Treasury starts repayment of SGR loan
-
John Ashworth
- Site Admin
- Posts: 23606
- Joined: 24 Jan 2007, 14:38
- Location: Nairobi, Kenya
- Contact: