Kenya will be banking on stable global conditions to keep its financing costs low after pegging the 425 billion shilling concessionary loan advanced by China to an international benchmark. Transport secretary Michael Kamau said last month's loan for the standard gauge railway, energy and wildlife protection was negotiated at an annual interest rate of 4.1 per cent totaling 17.5 billion shillings annually.
The Star (Nairobi)
Kenya to Repay Chinese Loan At Floating RateBy Marybeth Wambugu, 3 September 2013
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