Loan –Kenya government has bagged another sh 40 billion loan from the Chinese government today. Government has confirmed.
The William Ruto-led administration through the national treasury, has signed the deal that is meant to bolster stalled projects in the country.
From the existing Treasury books, the Chinese loan to Kenyan has since been pushed to a troubling sh 900 billion.
President William Ruto and his Cabinet led by Treasury CS John Mbadi irked the multimillion deal in an event orgainsed in Beijing China.
Mbadi stated that the amount will be utilized in making sure that 15 rural roads are properly funded and build across the country.
The signing ceremony, held at the China Development Bank, was attended by senior Kenyan officials, including Transport CS Davis Chirchir, Treasury PS Dr Chris Kiptoo, and engineer Joseph Mbugua. Tan Jiong, President of the China Development Bank, represented China during the negotiations, with both nations signalling their commitment to long-term cooperation.
