The site for Kimwarer Dam. Italian construction company CMC pocketed the cash for the construction of Arror and Kimwarer dams located within Elgeyo-Marakwet County, Kenya. FILE PHOTO | NMG
Kenya defaulted on the Ksh19.6 billion ($178 million) loan for the controversial Arror and Kimwarer dams having failed to make the first instalment payments to Italian Bank Intesa San Paolo in May.
Treasury documents tabled in Parliament show Kenya was to pay the first instalment for the Ksh11 billion ($100 million) lent to the Arror dam on May 18 and initial repayment of the Ksh8.63 billion ($78 million) Kimwarer loan on May 9.
