Renegotiate SGR loan terms to avoid default, House tells Kenyan Treasury
SGR cargo train at the Nairobi terminus on April 27, 2019. Kenyan law makers want the government to renegotiate the loan agreements signed with China for the Standard Gauge Railway (SGR). PHOTO | FILE | NMG
Kenyan law makers want the government to renegotiate the loan agreements signed with China for the Standard Gauge Railway (SGR) whose viability has come into question despite injection of billions of dollars into the project.
The EastAfrican has learnt that the National Treasury is seeking a whopping Ksh94 billion ($940 million) in interest and principal instalments to pay off the Chinese government, Chinese Exim Bank and the China Development Bank before the end of this month.
