Nairobi — Roads, Transport and Public Works Cabinet Secretary Kipchumba Murkomen, has finally made public contract details of the Standard Gauge Railway (SGR) that cost Sh670 billion.
The former Elgeyo Marakwet Senator took to his social media account to state that he had shared the documents with the majority leaders of both the Senate and the National Assembly.
The loan terms places the interest rate of the loan at 2.0 percent per year.
The Management fee and Commitment fee of the loan are both pegged at 0.25 percent.
The loan has a 20 year tenure and seven year grace period
The contract provide that any goods purchased using proceeds from the SGR will be sourced from China preferentially.
Speaking during his vetting National Assembly's Committee on Appointment, the newly sworn-in CS vowed to release details of the mega infrastructural project that former President Uhuru Kenyatta's regime had closely guarded.
Kenyans have been pushing to know whether the Kenya Ports Authority was used to guarantee the loans from the Chinese government.