Mbadi Signs a Troubling sh 40B Loan From China

• Author
• Recent Posts

Chrispen

Business || Brand strategist || Marketing - We make and break Brands®

Latest posts by Chrispen (see all)

• What Next for Ruto After Kuria Heckling in Murang’a? - November 23, 2024
• What BBC has Found out About President Ruto - November 23, 2024
• X Introduces M-Pesa Payment Feature - November 22, 2024

Friday, September 6, 2024 –Kenyan Government has bagged another sh 40 billion loan from China today. Government has confirmed.

In its heavy shift to rely on China for its core funding, the William Ruto-led administration, through the National Treasury, has signed the deal that is meant to bolster stalled projects in the country.

From the existing treasury books, the Chinese loan to Kenya has since been pushed to a troubling sh 900 billion what amount Kenya owes China.

President William Ruto and his cabinet led by Treasury CS John Mbadi irked the multimillion deal in an event orgainsed in Beijing China.

Mbadi stated that the amount will be strictly utilised in making sure that 15 rural roads are properly funded and build across the country.

“These roads will boost economic activities, create jobs, and improve access to essential services in rural areas,” the Treasury stated on its X account, shortly after the agreement was signed by both sides.

The signing ceremony, held at the China Development Bank, was attended by various senior Kenyan officials, including Transport CS Davis Chirchir, Treasury PS Dr Chris Kiptoo, and engineer Joseph Mbugua. On the other hand, Tan Jiong, President of the China Development Bank, represented China during the negotiations, with both nations signalling their commitment to long-term cooperation.