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Kenya to borrow Sh130b from banks after dropping Eurobond

National Treasury Cabinet Secretary Ukur Yatani. [Wilberforce Okwiri, Standard]

After abandoning plans to issue a fifth Eurobond, Kenya has turned to commercial banks to borrow $1.1 billion (Sh130.3 billion), a new International Monetary Fund (IMF) report shows.

The loan will be repaid using another Eurobond that will be issued in 2025.

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