Kenya: Southern Bypass Loan Repayment Delayed

Kenya Southern Bypass Loan Repayment Delayed (News Central TV)

Kenya’s Auditor General Nancy Gathungu has decried the country’s inability to keep up with its loan obligations, especially on the Southern Bypass project which has been delayed and is now compounding Kenya’s debt issues. According to her, the repayment of the 18 billing shilling project secured from the China Exit Bank, has fallen behind and the country now owes the bank 3.6 billion shillings (approximately 31 million dollars) in just delayed payments.

The Southern Bypass project is a 30-kilometre long road in Nairobi that was completed in 2016. Funds for the project were secured from the China Exim Bank and constructed by the China Roads and Bridge Corporation. The delayed repayment for the year now stands at 3.6 billion shillings, an increase of 726 million shillings from the 2020 outstanding figure of 2.9 billion.

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Although Kenyan motorists pay an 18 shilling levy on diesel and petrol that contributes to the maintenance and rehabilitation of roads, the government has considered the reinstatement of toll fees on the roads to generate more revenue, a move met by protests last week.

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