Kenya to Borrow KSh 500b Diaspora Loan to Upgrade JKIA, Finance Other Projects

^{Published on 2024-12-06 10:31:15 - Tuko}

Kenya plans to borrow KSh 500 billion through a diaspora bond to upgrade Jomo Kenyatta International Airport (JKIA) and finance other development projects.

The Kenyan government is planning to borrow KSh 500 billion through a diaspora bond to fund various infrastructure projects, including the upgrade of Jomo Kenyatta International Airport (JKIA) and the construction of the Dongo Kundu Bypass. This initiative aims to leverage the financial resources of Kenyans living abroad to finance development without increasing the country's debt burden from traditional sources. The diaspora bond is part of a broader strategy to tap into the estimated KSh 3 trillion held by Kenyans in the diaspora. The funds will also support other key projects like the Nairobi Intelligent Transport System and the expansion of the Standard Gauge Railway (SGR). The government has already engaged with financial advisors to structure this bond, which is expected to be launched soon, offering Kenyans abroad an opportunity to invest in their homeland's development.

Read the Full Tuko Article at:
[ https://www.tuko.co.ke/business-economy/571480-kenya-borrow-ksh-500b-diaspora-loan-upgrade-jkia-finance-projects/ ]

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