Kenya: Treasury Spends Sh1.7bn On Loan Securing Charges

17 September 2021

The Controller of Budget (COB) has flagged Treasury for Sh1.657 billion paid to secure future borrowing, saying the loans should be cancelled to ease the debt load on taxpayers.

Commitment fees are charged on borrowers for credit that has not been advanced and is a way of guaranteeing that a lender will keep the funds.

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