[B]KeNHA[/B]Verified account @KeNHAKenya 21h21 hours ago
CS Treasury and Japanese Ambassador to Kenya signing the financing agreements for the construction of Dongo Kundu packages 2&3.
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[SIZE=6]Kenya signs Kshs 11.8 billion deal with Japan for road building[/SIZE]
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AMBASSADOR OF JAPAN TO KENYA, TOSHITSUGU UESAWA. KENYA HAS SIGNED A SH14.6 BILLION DEAL IN LOANS, GRANTS AND AID WITH THE GOVERNMENT OF JAPAN TO BOOST INFRASTRUCTURE AND SECURITY VENTURES. FILE PHOTO | NMG
TUESDAY, JULY 4, 2017 15:29 BY EDWIN OKOTH
Japan has offered Kenya Kshs 11.8 billion in loan and grants expansion of roads linked to the Port of Mombasa and purchase of patrol boats. A loan of Sh11.8 billion will be used to complete the second phase of the Mombasa Port access roads.
Another Sh273 million grant will be used to buy 12 patrol motor boats to police Lake Victoria and Indian Ocean waters.
Treasury secretary Henry Rotich said the loan sourced on concessional terms will be “a big boost” to the infrastructure development and economic growth of the country.
“This loan which is an additional funding for the Mombasa port area roads will be a big contribution to higher economic development of the country by improving transport, industrialisation and tourism. The terms are very friendly making it a convenient source for our infrastructure funding,” Mr Rotich said.
The loan has a repayment period of 30 years and will attract a 1.2 per cent interest rate.