India pledges to grant Kenya Sh10b loan

The Indian government has pledged to grant Kenya Sh9.7 billion soft loan towards procuring agricultural machines.

Agriculture Principal Secretary Sicily Kariuki yesterday said the two governments are working on the paper work before commencing the release of the loan to be advanced at two per cent per annum.

The money will be expended to purchase about 4,000 tractors, irrigation pipes, combine harvesters among other assorted farming machinery.

“The Indian government has just presented the contract papers to my ministry. We will study the documents before signing. We are grateful as the machinery will assist us in mechanising the sector as envisioned by the Government,” said Kariuki.

She made the remarks at the Kenyatta International Convention Centre during the opening of the Second Agritec Africa conference.