Jubilee MPs: Why Raila is bitter over Eurobond

The Eurobond saga got murkier yesterday with the Jubilee coalition claiming that Opposition leader Raila Odinga is seeking revenge after the Government refused to fund ‘cash cow’ projects that he favoured. 

Yesterday, over 50 Jubilee MPs sought to explain the whereabouts of the Eurobond funds, dismissing the Opposition’s grumblings as a case of sour grapes after the sovereign bond money failed to trickle down to pet projects fronted by Raila during his time as Prime minister.

MPs Aden Duale (left), Kithure Kindiki and Kipchumba Murkomen address journalists in Nairobi yesterday. (PHOTO: ANGELA MAINA/ STANDARD)

CORD claims that the Jubilee government cannot account for over Sh140 billion out of the Sh250.2 billion sovereign bond.

The leaders led by National Assembly Majority Leader Aden Duale and his Senate counterpart Kithure Kindiki, accused Raila of acting like a jilted lover after projects from which he and his “henchmen” allegedly expected to receive kickbacks, were ignored by the current government.

On record

“It is on record that Raila Odinga has curiously and consistently been asking about the projects that were funded with the proceeds of the Eurobond. Raila Odinga and his shadow partners operating from an address in Westlands had lined up mega projects for government financing before the last General Election and he owes the country an explanation...,” the leaders said in the statement read alternately by Duale and Kindiki.

The projects that Raila is claimed to have favoured for funding are the Greenfield Airport (Sh65 billion), the National Youth Service equipment programme (Sh16 billion), and the urban commuter train project.

The CORD leader allegedly signed the ‘rent seeking’ projects towards the tail end of the Grand Coalition government, led by President Mwai Kibaki.

“All these controversial projects, which the CORD leader hoped would be financed with the Eurobond are massive kickback schemes presented as critical national projects. Mr Odinga is obviously angry at the Jubilee administration for its refusal to use the Eurobond to finance these rackets, which were designed by shady and corrupt networks both inside and outside the Grand Coalition administration. He knows the full details of these schemes,” said Mr Duale.

“The Controller of Budget and the Auditor General have confirmed that there are no missing or stolen monies from the bond,” he added.