Kenya President to Sign French Consortium Loan for Infrastructure

President Uhuru Kenyatta is scheduled to sign a U.S.$1,7 billion deal with a French consortium, that will be used for upgrades to the 190-kilometer Rironi-Nakuru-Mau Summit Road. The signing will provide the country with its first toll highway outside Nairobi and will be a key segment of the northern corridor. The road will significantly cut travel time for both passengers and goods, reducing the cost of doing business. It will also compliment the standard gauge railway services between Naivasha and Malaba border. With Kenya's high rate of borrowing, parliament budget experts estimate that when Kenyatta leaves office in 2022, the country's debt could hit U.S.$85 billion - more than three times the total annual budget.

InFocus

President Uhuru Kenyatta with French President Emanuel Macron in Nairobi (file photo).

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