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| City Hall has defaulted on the Sh212 million loan that has now grown to Sh1.5 billion, having been procured from the United States Agency for International Development (USAid) in 1985 at an 8.5 per cent interest rate per year. |
By JEVANS NYABIAGE
The Government spent Sh1.93 billion in the last financial year to service loans defaulted on by three parastatals, as servicing debts incurred by profligate agencies becomes a big burden to taxpayers
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