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Kenya has received a Sh1.5 billion loan from India. The money from India's Export-Import Bank (Exim Bank) will be used to support local small and medium enterprises to purchase equipment to boost productivity.
This includes the purchase of machinery, fertilisers and other farm inputs besides paying for consultancy services. The loan agreement comes with plenty of strings attached with the lenders clearly stating that Kenya must use at least 75 per cent of the funds to procure goods and services from Indian companies.
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