FRANCE REFUSES TO GIVE KENYA LOAN FOR RAILWAY LINE CONSTRUCTION
Maybe the prayers of many Kenyans have been answered. Few monthd ago, Kenyans in droves signed petitions to beseech IMF and World Bank to stop loaning Kenyan government. They reasoned that excessive borrowing was burdening the taxpayer. They also faulted the transparency and accountability when it comes to the proceedings of the loans.
It is now reported that President Uhuru Kenyatta has failed to secure a Ksh16.8 billion deal for the construction of a railway line linking Jomo Kenyatta International Airport (JKIA) to Nairobi’s city center. The deal was expected to be signed on June 30th 2021 but as of today nothing has been signed.
Transport Cabinet Secretary confirmed that Uhuru’s two day visit in France did not bear any fruits. The trip would have brought much needed cash for construction of the 5-kilometer railway line linking JKIA to the Syokimau Standard-Gauge Railway (SGR) terminus.
“No agreements were signed. We just reviewed progress toward the launch of the project,” Macharia confirmed.
Kenya Railways also confirmed that the deal was not successful.
“As per the financial protocol, the signing of the loan agreement was expected by June 30, 2021. This is being handled by the Treasury. The Treasury is best placed to provide an indicative timeline,” Kenya Railways Chairman Pastor Awitta stated.