Kenya to Borrow $12.4 Billion Abroad by June 2022, IMF Says

Kenya to Borrow $12.4 Billion Abroad by June 2022, IMF Says
Bloomberg
3 hrs ago
David Herbling
© Bloomberg
Street vendors sell second-hand clothing on a shopping street in downtown Nairobi, Kenya, on Saturday, Dec. 5, 2020. Kenya is seeking a loan of as much as $2.3 billion from the International Monetary Fund under the lender’s extended fund facility.
(Bloomberg) --
Kenya plans to borrow $12.4 billion between now and June 2022 from foreign sources, the International Monetary Fund said in a report detailing terms and conditions of a separate $2.34 billion financing package approved by its board last week.
The amount includes $7.3 billion in Eurobonds, $4.8 billion in concessionary borrowing and $282 million semi-concessional loans, the IMF said in a report on its website. About $2.3 billion of the Eurobonds will be new borrowing to be spent on infrastructure projects, while $5 billion is refinancing for a Eurobond maturing in 2024 and to retire pricey syndicated loans, it said.

Related Keywords

Nairobi , Nairobi Area , Kenya , Ghana , Yvonne Mhango , Irmgard Erasmus , Bloomberg , Kenya Electricity Generating Co , International Monetary Fund , Kenya Airways Plc , Kenya Railways Corp , Lighting Co , Bloomberg Street , Saharan Africa , Kenya Power , Kenya Electricity Generating , Economics Kenya , Kenyan Eurobonds , நைரோபி , நைரோபி பரப்பளவு , கேந்ய , கானா , இரம்கார்த் ஈராஸ்மஸ் , ப்ளூம்பெர்க் , கேந்ய மின்சாரம் ஜெநரேடிஂக் இணை , சர்வதேச பண நிதி , கேந்ய வானெறிக்குழுப்பெயர் ப்ல் , கேந்ய ரயில்வே கார்ப் , விளக்குகள் இணை , ப்ளூம்பெர்க் தெரு , கேந்ய பவர் , கேந்ய மின்சாரம் ஜெநரேடிஂக் , பொருளாதாரம் கேந்ய ,