January 17, 2020 / 5:10 AM / in a month

Kenya in talks with World Bank for a 50-100 bln shillings loan

NAIROBI, Jan 17 (Reuters) - Kenya is in advanced talks with the World Bank for “a fairly priced” loan of up to 100 billion shillings ($991.57 million), nearly half of its required external funding this fiscal year, a senior Treasury official said on Friday.

The balance of the funds will be raised through Kenya’s first sovereign green bond, said Julius Muia, the principal secretary in the ministry of finance, adding that he was confident that this year’s deficit will be covered through affordable loans. ($1 = 100.8500 Kenyan shillings) (Reporting by Duncan Miriri; Editing by Muralikumar Anantharaman)

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