Kenya is set to receive a financial boost to fund road projects after Treasury Cabinet Secretary John Mbadi confirmed the impending arrival of a Ksh78 billion (USD600 million) loan.
The financing is backed by the country's road maintenance levy, which is collected from motorists at fuel pumps across the country.
Amid the government's struggles with a tight budget and rising debt payments, Mbadi revealed the move to securitise the road maintenance levy to enable the Kenya Roads Board to access cheaper credit.
The road maintenance levy is currently set at Ksh18 (USD0.139) per litre of fuel.
