Kenya Has Failed To Secure The Sh18 Billion Loan From France And The European Union.

loan from France

Kenya has failed to secure the Sh18 billion loan from France and the European Union following President Uhuru Kenyatta’s five-day state visit.

A senior state official who accompanied Uhuru on the trip told the Cabinet on Thursday last week.

However, he failed to explain why France President Emmanuel Macron failed to endorse Uhuru’s new debt despite earlier media claims the president signed the new loan from France.

Key sources told Nairobi mini Bloggers that Macron protested at the high corruption levels in government. He also said that the costs of the projects proposed by Kenya were extremely expensive in costs.

loan from France

The France president also protested following human rights abuse in Kenya and police brutality including the latest tear-gassing of a church congregation in Murang’a during deputy president William Ruto’s visit.

Already, the US has protested following the police brutality and impunity by state officials by threatening sanctions. France and the US are among the countries that withdrew police reforms funding in Kenya following police brutality in the 2017 elections. Others are German, Netherlands, and Britain among others.

“Macron used words close to what the United States President Donald Trump told the Kenyan delegation when they visited US head by Uhuru. He said that the project was more than 200 percent of what it should cost,” our source said.

Key sources within the Transport Ministry, Treasury and State house told Opera that the United States also pulled out of the construction of the Mombasa-Nairobi superhighway following high costs proposed by the Kenyan government.

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loan from France

“As a Government, we will do everything that we can to facilitate you, to make it easy for you to do business in Kenya and in the region,” Uhuru told a meeting of French and Kenyan investors after being received at Elysee Palace by his host Macron.

The funds included an Sh3.78 billion concessional loan in support of Kenya’s emergency response to the Covid-19 pandemic. Another Sh8.82 billion loan for the Lake Victoria Water and Sanitation Project to ensure locals in Kisumu access clean water and sanitation services.

Others are projects financed by an Sh2.52 billion concessional loan from the French development agency, an Sh4.41 billion concessional loan from the European Investment Bank (EIB), and an Sh630.63 million grant from the EU.

Kenya was expected to provide Sh1.26 billion in the counterpart financing.

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