The government is in a race against time to secure new loans amounting to Sh421.9 billion to fund Big Four projects.
This is even as the National Treasury is rooting for external loans payable at lower interest rates for a longer period compared with commercial loans.
President Uhuru Kenyatta’s administration is bidding for a facility from African Development Bank (Sh94.2 billion), China (Sh86.9 billion), Japan (Sh83 billion), World Bank (Sh51 billion), AfD (Sh30.6 billion), South Korea (Sh15.9 billion), and Germany (Sh15.3 billion).
Others are IFAD (Sh12.4 billion), Middle East (Sh9.7 billion), France (Sh5.98 billion), Spain (Sh4.23 billion), European Investment Bank (Sh3.99 billion), Italy (Sh3.06 billion), Belgium (Sh2.83 billion), and Finland (Sh2.3 billion).
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