Nairobi – President Mwai Kibaki has secured almost
Sh20 billion in advances from the second largest development bank in the
world.
The Brazilian Development Bank (BNDES) extended a Sh6.7 billion ($80
million) soft loan towards the mechanisation of agriculture in Kenya and
Sh12.6 billion ($150 million) for the construction of link roads and
interchanges to decongest the city of Nairobi.
Kibaki, who was in Rio de Janeiro in Brazil for the United Nations
Conference on Sustainable Development, held talks with the President of
the development bank to establish a credit-line of up to Sh167.6 billion
($2 billion) to finance priority projects in Kenya.
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