Kenya is expecting to receive Ksh122 billion in fresh loans from external sources, Treasury Cabinet Secretary John Mbadi has said.
While speaking to Reuters, Mbadi revealed Kenya will hold the $1.5 billion about Ksh193 billion privately placed bond in the United Arab Emirates to fit into the budget plans for this financial year. The UAE loan is to be dispatched in one tranche, according to reporting from Bloomberg, and was expected to be released this week. However, Mbadi now says the country has placed the loan on hold to assess the budgetary gaps.
This comes as the Supplementary Budget II makes its way through the National Assembly.
President William Ruto visits a construction site in February 2025.
