Kenya will turn to the financial markets to raise Ksh175.75 billion ($1.36 billion) through a securitised bond next month, part of a wider plan to fund infrastructure projects without incurring unsustainable sovereign debt.
The bond will be issued locally and internationally, with proceeds earmarked primarily for road construction.
However, the model is also central to financing the Ksh258.46 billion ($2 billion) expansion of Nairobi's Jomo Kenyatta International Airport (JKIA).
Transport Cabinet Secretary Davis Chirchir stated that the government will invite international development lenders to participate in the airport project, utilising JKIA's revenues as the basis for raising funds.
