AfDB wants Kenya, Uganda Governments to help recover RVR debts

African Development Bank (AfDB), the largest lender of Rift Valley Railways, is unsure on how to claim a colossal sum of money owed by the firm. RVR has lost its concessions to run the Kenya-Uganda Railway and currently has no revenue stream.

The lender in 2011 advanced Sh4 billion ($40 million) to the railway firm for rehabilitating as well as operating the railway. This was expected to help it gain stability and get into profitability. The Sh4 billion loan was part of Sh16.5 billion ($165 million) long-term foreign currency-lending programme with other international financial institutions.