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Kenya Secures $1.5 Billion Loan to Boost Budget

2/22/2025

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Summary

Story summary

Kenya is set to secure a Ksh193 billion ($1.5 billion) loan from the UAE by the end of February, carrying an interest rate of 8.2%. This crucial funding will help bridge budget gaps under President William Ruto's leadership and bolster the nation's foreign reserves as it prepares for upcoming negotiations with the IMF before April 1.

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Story summary

Kenya is set to secure a Ksh193 billion ($1.5 billion) loan from the UAE by the end of February, carrying an interest rate of 8.2%. This crucial funding will help bridge budget gaps under President William Ruto's leadership and bolster the nation's foreign reserves as it prepares for upcoming negotiations with the IMF before April 1.