President Kenyatta Heads to China to Secure Sh380 Billion SGR Loan
President Kenyatta is set to lead a delegation of Kenyan government officials to China next month.
The Daily Nation reports that the aim of the trip will be to secure a multi-billion-shilling loan for the construction of phase 2B of the Standard Gauge Railway (SGR).
The loan, estimated to be Sh380 billion, will be used to fund the construction of the railway line between Naivasha and Kisumu.
Kenyatta's trip to the Asian country follows an agreement with Uganda President Yoweri Museveni for extension of SGR to Kampala.
The Daily Nation reports that Kenyatta and his delegation will jet out of the country within the first two weeks of April.
Transport Principal Secretary Esther Koimett and acting Kenya Railways Managing Director Phillip Maingi have reportedly been holding discussions with Chinese officials regarding the loan.
This will be the second time Kenyatta is heading to Beijing to negotiate the loan after a failed attempt last year.
China is reported to have declined to approve the loan after concerns over the viability of the railway line.
Beijing wanted a deal for the extension of SGR to Kampala is struck first before agreeing to fund the Naivasha-Kisumu stretch.
Comments
The Chinese understood long…
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The Chinese understood long time that there is a scramble for Africa! Kenya will break the record for having many foreigners who own a piece of this land than any other country! pssst!someone get me a cold tusker!
When the white colonials…
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When the white colonials came to Kenya for the first time they gave the tribal chiefs beads and in exchange the chiefs gave them land and made them their rulers. Today we see the tribal chiefs going to china to give away the country for nothing. Bure kabisa
Sasa Prezzo..we had real…
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Sasa Prezzo..we had real development while Emilio Kibaki was in Power sikusikia ameenda china we had real development your legacy will fall enda pole pole with yr Billion dolla borrowing.. I read somewhere you do not get involved in family business or decisions..sasa our parliamentarians MPIGS sijasikia wakiteta.. is everyone getting a portion of this??..empower our rural people with roads hii railway is benefiting a small Population..Maimahiu is a death trap for long get a superhighway..hizo tracks..with personal cars and psv NO NO...ROADS>>ROADS>>ROADS nice long lasting will empower mwanainchi to the village tunataka iyo managu….matoke..pumpkin..avocado..other produce from Turkna...kuku ya ukambani..if done well the rural urban migration will stop pesa itarudi mashinani..Povertty levels will go down.
Thank you Mr President…
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Thank you Mr President. Borrow even more but use wisely. Kenya needs modern roads, railways, airports na kadhalika.
Make sure 10% is well…
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Make sure 10% is well approved as advance for your VP Ruto....that way easier than breaking scandal news as usual.
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We totally get it that the war of corruption is only for the small fish.
Secession here we come…
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Secession here we come.......🚊🚊🚊
@njai i support yooo.Yes…
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@njai i support yooo.Yes borrow more we needs roads,industries,ports expansion,bridges,good affordable hospitals loans tutalipa baadaye after seeing the benefit?Japan,singapore,malaysia the asian tigers have borrowed heavily n invested to be where they are n we should b ashamed that this r the countries wr happy to visit n send our children's juu they r developed?Do we think they used their saliva to develop????They borrowed n money spent wisely.So uhunye borrow more n more.
President ya upuzi
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President ya upuzi
Beijing knows better than we…
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Beijing knows better than we most do; that loan is not just an exchange of money from one prosperous hand to another needy hand. The projects must be viable and our own monies must be safe from the corruption vice to prove we can pay. Paying debts cannot be on account of words or saliva as @mh says of development. Debts are paid in hard currency plus interest; so if you misappropriate the loan, Beijing is in no business to pet countries- it carries a big stick even to its own citizens.
That's it @Mkenya. There are…
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That's it @Mkenya. There are people here who think we can become a first world country by selling fish and bananas or roasting maize in the streets. They are economic illiterates. Sio kupenda kwo.
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