Kenya inks Sh17bn loan to redesign city road junctions
The Treasury signed two loans of Sh10.79 billion ($100 million) and Sh6.59 billion ($61 million) at an exchange rate of Sh107.85 to finance the Nairobi Integrated Transport System (ITS).
The loan, signed on January 29, 2021, is yet to be disbursed to the Kenyan government.
“The loan will…attract interested rate of Sh0.1 percent per annum and a service charge of Sh0.1 percent per annum on undisbursed loan amount,” Treasury said in disclosures to Parliament.
The loans will be repaid in 60 semi-annual instalments starting July 20, 2031.
The Ministry of Transport is seeking to implement the Integrated Transport System and Loop Line in the Nairobi Urban Core project.