The Kenyan Government has secured a USD 500 million Syndicated Medium-Term Loan Facility to finance development projects in the 2023/4 budget.
The loan, with a tenure of 3 and 5 years, was facilitated by Citibank, Rand Merchant Bank (RMB), The Standard Bank of South Africa, and Standard Chartered Bank, who were appointed as Bookrunners and Initial Mandated Lead Arrangers.
The Africa Export-Import Bank also joined as a Bookrunner and Mandated Lead Arranger, directing its contributions towards the longer-term tranche.
The National Treasury will channel the proceeds to support the implementation of development projects outlined in the approved development budget for Fiscal Year 2022/2023.