By using this site, you agree to the Privacy Policy and Terms of Use.
Accept

News Junction

Notification Show More
Font ResizerAa
  • Home
  • World News
    World NewsShow More
    UK plans to end ‘failed experiment’ in immigration
    UK plans to end ‘failed experiment’ in immigration
    May 11, 2025
    Vladimir Putin’s offer of direct talks with Ukraine is the latest attempt to avoid committing to a 30-day ceasefire | World News
    Vladimir Putin’s offer of direct talks with Ukraine is the latest attempt to avoid committing to a 30-day ceasefire | World News
    May 11, 2025
    Putin proposes direct Russia-Ukraine talks in Istanbul on May 15 | Russia-Ukraine war News
    Putin proposes direct Russia-Ukraine talks in Istanbul on May 15 | Russia-Ukraine war News
    May 11, 2025
    Why is Germany such a mess? — RT World News
    Why is Germany such a mess? — RT World News
    May 11, 2025
    Pope Leo explains name: AI, worker rights
    Pope Leo explains name: AI, worker rights
    May 11, 2025
  • Business
    BusinessShow More
    Ukraine blows up bridges to consolidate its positions in Russia
    Ukraine blows up bridges to consolidate its positions in Russia
    August 18, 2024
    Commentary: AI phones from Google and Apple will erode trust in everything
    Commentary: AI phones from Google and Apple will erode trust in everything
    August 18, 2024
    The most famous Indian Dishes – Insights Success
    The most famous Indian Dishes – Insights Success
    August 18, 2024
    Life on the road as a female long rides cyclist
    Life on the road as a female long rides cyclist
    August 18, 2024
    UK inflation rises to 2.2%
    UK inflation rises to 2.2%
    August 18, 2024
  • Cryptocurrency
    CryptocurrencyShow More
    Bitcoin Price (BTC) News: 5K in Play
    Bitcoin Price (BTC) News: $105K in Play
    May 11, 2025
    Price analysis 3/17: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, PI
    Price analysis 3/17: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, PI
    May 11, 2025
    Why is Ethereum (ETH) price up today?
    Why is Ethereum (ETH) price up today?
    May 11, 2025
    Bitcoin SV investors attempt to resurrect 2019 Binance lawsuit
    Bitcoin SV investors attempt to resurrect 2019 Binance lawsuit
    May 11, 2025
    Ex-UFC champ Conor McGregor touts Irish Bitcoin reserve in presidential bid
    Ex-UFC champ Conor McGregor touts Irish Bitcoin reserve in presidential bid
    May 11, 2025
  • Technology
    TechnologyShow More
    How to Improve Your Spotify Recommendations
    How to Improve Your Spotify Recommendations
    August 18, 2024
    X says it’s closing operations in Brazil
    X says it’s closing operations in Brazil
    August 18, 2024
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    August 18, 2024
    Scientists Want to See Videos of Your Cat for a New Study
    Scientists Want to See Videos of Your Cat for a New Study
    August 18, 2024
    OpenAI’s new voice mode let me talk with my phone, not to it
    OpenAI’s new voice mode let me talk with my phone, not to it
    August 18, 2024
  • Entertainment
  • Sports News
  • People
  • Trend
Reading: Treasury takes Sh258 billion foreign loans in seven months
Share
Font ResizerAa

News Junction

  • World News
  • Business
  • Technology
  • Cryptocurrency
  • Trend
  • Entertainment
Search
  • Recent Headlines in Entertainment, World News, and Cryptocurrency – NewsJunction
  • World News
  • Business
  • Cryptocurrency
  • Technology
  • Entertainment
  • Sports News
  • People
  • Trend
Have an existing account? Sign In
Follow US
News Junction > Blog > Business > Treasury takes Sh258 billion foreign loans in seven months
Treasury takes Sh258 billion foreign loans in seven months
Business

Treasury takes Sh258 billion foreign loans in seven months

Published February 11, 2024
Share
4 Min Read
SHARE

Contents
EconomyTreasury takes Sh258 billion foreign loans in seven months
Economy

Treasury takes Sh258 billion foreign loans in seven months

Friday February 09 2024

Cabinet Secretary for National Treasury and Economic Planning Prof Njuguna Ndung’u. PHOTO | DENNIS ONSONGO | NMG

The National Treasury contracted Sh258 billion ($1.611 billion) in foreign loans in the seven months to end of January 2024.

The bulk of the external loans in the 2023/24 financial year covers Sh118.8 billion ($742 million) in programme loans which are sourced largely on concessional terms from multilateral lenders.

Among the funding from the lenders is a Sh61.6 billion ($385 million) disbursement from the Trade and Development Bank (TDB) which was approved in January.

Kenya has meanwhile received Sh74.9 billion ($468 million) in project loans over the same period.

Receipts from external capital markets and commercial loan financing have trailed both project and programme loans as the exchequer prioritises tapping mostly from concessional funding sources.

Read: Treasury mulls tapping foreign commercial debt

“Kenya believes it has access to adequate concessional and non-concessional financing and reserves buffer to finance both fiscal and balance of payment gaps, while a robust domestic securities market provides further flexibility,” a preliminary offering circular detailing Kenya’s next Eurobond offer notes.

The cumulative disbursements of foreign loans as of the end of January 2024 represent 42.5 percent of total net foreign financing expected by the close of June or Sh606.9 billion ($3.789 billion).

The National Treasury is expected to lean on additional concessional funds to meet its external borrowing target in the fiscal year.

Kenya, for instance, expects the disbursement of Sh15.1 billion (€88 million) from the African Development Bank and Sh240.2 billion ($1.5 billion) from the World Bank Development Policy Operations.

In January, the exchequer netted Sh109.6 billion ($684.7 million) from the International Monetary Fund (IMF), bolstering funding amidst the looming rollover of its 2014 Eurobond which has presented major concerns for investors, driving up interest rates on government securities both in the home market and abroad.

The switch to concessional funding is expected to reduce Kenya’s debt service costs while the multilateral facilities offer relatively longer repayment cycles.

The National Treasury could, however, potentially take up to Sh160.1 billion ($1 billion) representing surpluses from the issuance of the new Eurobond whose proceeds are mainly targeted at rolling over part or portions of Kenya’s debut 2014 Eurobond.

Kenya is expected to make the payment of Sh608.6 billion ($3.8 billion) as principal including the rollover of the Sh320.2 billion ($2 billion) debut Eurobond.

Read: Companies pay a steep price to service dollar loans

Domestically, the exchequer has borrowed over Sh224.2 billion out of Sh512.5 billion in projected net domestic financing by the end of June.

The Treasury has proposed liability management operations in the domestic and external capital markets.

→ [email protected]

#Treasury #takes #Sh258 #billion #foreign #loans #months

TAGGED:African Development BankbillionEurobondforeignInternational Monetary FundKepha MuiruriloansmonthsNational treasurySh258takesTrade and Development BankTreasuryWorld Bank Development Policy Operations
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article Pink’s secret friendship with big Australian star revealed as the pop icon continues her Summer Carnival Tour Down Under Pink’s secret friendship with big Australian star revealed as the pop icon continues her Summer Carnival Tour Down Under
Next Article John Bruton funeral: Irish leaders pay respects as former taoiseach is laid to rest | World News John Bruton funeral: Irish leaders pay respects as former taoiseach is laid to rest | World News
- Advertisement -

Latest Post

UK plans to end ‘failed experiment’ in immigration
UK plans to end ‘failed experiment’ in immigration
World News
Bitcoin Price (BTC) News: 5K in Play
Bitcoin Price (BTC) News: $105K in Play
Cryptocurrency
Price analysis 3/17: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, PI
Price analysis 3/17: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, PI
Cryptocurrency
Vladimir Putin’s offer of direct talks with Ukraine is the latest attempt to avoid committing to a 30-day ceasefire | World News
Vladimir Putin’s offer of direct talks with Ukraine is the latest attempt to avoid committing to a 30-day ceasefire | World News
World News
Why is Ethereum (ETH) price up today?
Why is Ethereum (ETH) price up today?
Cryptocurrency
Putin proposes direct Russia-Ukraine talks in Istanbul on May 15 | Russia-Ukraine war News
Putin proposes direct Russia-Ukraine talks in Istanbul on May 15 | Russia-Ukraine war News
World News
- Advertisement -

You Might Also Like

China economic recovery weakens, spurring measures from Beijing
Business

China economic recovery weakens, spurring measures from Beijing

July 31, 2023
Saudi crown prince meets Iran’s foreign minister as relations thaw
World News

Saudi crown prince meets Iran’s foreign minister as relations thaw

August 20, 2023
Outsourcing Executive Recruitment: Tactics for C-suite Hiring – Insights Success
Business

Outsourcing Executive Recruitment: Tactics for C-suite Hiring – Insights Success

August 17, 2023
NatWest boss ‘made serious error of judgement’ in discussing Farage bank accounts with BBC reporter
Business

NatWest boss ‘made serious error of judgement’ in discussing Farage bank accounts with BBC reporter

July 26, 2023

About Us

NEWS JUNCTION (NewsJunction.xyz) Your trusted destination for global news. Stay informed with our timely and accurate reporting on diverse topics, including politics, technology, science, entertainment, sports, and more. Count on us for unbiased and reliable updates at your fingertips.

Quick Link

  • About
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • Contact

Top Categories

  • World News
  • Business
  • Technology
  • Entertainment
  • Cryptocurrency
  • Sports News
  • Trend
  • People

Subscribe

Subscribe to our newsletter to get our newest articles instantly!

    © 2023 News Junction.
    • Blog
    • Advertise
    • Contact
    Welcome Back!

    Sign in to your account

    Username or Email Address
    Password

    Lost your password?