Jubilee Development - Kenya signs Kshs 18.74bn agreement with French govt to build Ruiru II dam.

Kenya signs Kshs 18.74bn agreement with French govt to build Ruiru II dam.
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Kenya has signed a Sh18.74 billion agreement with French government to build Ruiru II Dam and Water Supply project to help address water issues in the nation.While addressing the media on Saturday, President Uhuru Kenyatta said the project was as a result of long term mutual relationship between Kenya and France.

“We welcome an old friend who has chosen to trust in us because investments like these show true friendship and partnership in the development agenda,” he said.

The deal was signed in April last year after Uhuru and French President François Hollande signed five pacts that will inject close to 250 million Euros into the Kenyan economy.
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French President Francois Hollande (R) and President Uhuru Kenyatta deliver a joint press conference at the Elysee Palace in Paris, France, April 4, 2016. /REUTERS

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Good job. Clearly Kenya can do without the west.

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Hey Shoopid, your goD boycotted the inauguration in 2013 and instructed you his obdent sheep not to watch, listen or read. That was how you missed that part about ‘friendships based on mutual respect and reciprocity’.

[COLOR=rgb(255, 0, 0)]“We will embrace partnerships based on mutual respect and win-win scenarios. We will not accept partnerships that do not recognise we also have the intellectual capacity to engage on equal terms. [COLOR=rgb(255, 0, 0)]Africa has a voice. Fifty years after independence, Africa demands that its voice must be heard[COLOR=rgb(255, 0, 0)].”

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Why does everything positive have to be about foreigners. What is this? Beggar nation?

Hii ni ile iko karibu na ile city inajengwa ruiru? If you know the owners then connect the dots

First it was death tunnels, now a dam? Hii Jubilee inataka kumaliza sisi.

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This is good news for Kenya; however can you elaborate what we’re giving up in exchange. Is it out of the good nature of their hearts that France, a country in dire financial straits, decided to gift Kenya a dam? Is this 18.74 billion a loan or a grant?

this is a concessional loan. payment will start in 10 years at 3 percent interest. I’m still baffled as to how we get such good deals

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Then why go for expensive Chinese commercial loans when good deals are out there? Or us easy to steal from China

how are Chinese loans expensive compared to other lenders? please elaborate with figures. sande sana.

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They have short maturities and interest rates are higher. 5-8%

Name one?

Sgr loan

Really OK, since you know. Break it for us how much was the loan, interest, duration, grace period and categories. Don’t worry I’ll be patient for this expose which I didn’t know.

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If hypothetically your statement was true that means the government sees the turn over of these loans is short term, probably when Ruto is becoming president. It’s called duration/cash flow matching which is taught in finance 101.

There’s no need to take a long term loan if you know you’re going to have a liability over a short period of time.

Boss read the sacarsm in my comment.

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sgr loan is also concessional. payment starts after 30 years… interest is also 3 percent. These people know what they’re doing

You have a lake and have let it go to seed (with hyacinth that has economic value) and we are importing fish from China, but you cannot stop muttering about other peoples’s efforts to secure water for the urban areas that sustain all of us.

The next big headline:-
[SIZE=6]Raila opposes construction of Ruiru II dam. [/SIZE]
[SIZE=4]They are always mum when these kind of projects are launched but splash it all over their front pages when the big noise maker opposes it. [/SIZE]