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Kenya in talks with World Bank for loan of as much as Sh100 billion

Kenya is in advanced talks with the World Bank for “a fairly priced” loan of up to Sh100 billion ($991.57 million), nearly half of its required external funding this fiscal year, a senior Treasury official said on Friday.

The East African nation wants to cut debt from overseas capital markets, after a borrowing binge in recent years, including Eurobond offerings, a package of Chinese loans and syndicated commercial loans.

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