Discussions ongoing between Kenya and UAE over Ksh.194B trade loan
The $1.5 billion (Ksh. 194.1B) loan that Kenya is negotiating with the United Arab Emirates is a commercial loan with an interest rate of 8.25 percent and a maturity of seven years, the Minister of Finance John Mbadi said.
At the end of September, a source familiar with the matter reported that the Kenyan government was making final thoughts close enough to agreeing to the loan, aimed at bridging the financial gap in the East African country..
Referring to the $1.5 billion bond that was released in February to pay part of the $2 billion bond issued in June, Mbadi said at a press conference on Wednesday.
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