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President William Ruto signs law allowing the use of the rail levy to secure loans for railway development. [File, Standard]
President William Ruto has signed into law a bill that allows the government to use nearly all the funds collected through the Railway Development Levy (RDL) as collateral for new loans. The new law allows the government to use up to 90 per cent of the money collected through the levy to “secure additional funds”, which will then be used to finance railway developments such as construction and rehabilitation of railway lines.
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