Kenya Says Railway Levy Can Raise $2b to Complete Stalled Line

Extension of the railway from Naivasha to the Ugandan border will cost about $5 billion, Treasury Secretary John Mbadi tells reporters.

• “Actually what we are intending to do is to use, if possible, the railway development levy to raise funds”
• “We have not engaged with Exim Bank China on funding the railway extension to Malaba”
• Contractor China Road and Bridge Corp. is willing to put in $500 million
• Kenya has been using normal budgetary provisions to repay existing railway loans
• NOTE: Jan. 28, Kenya Says It Holds Enough Yuan Reserves to Repay China Loans

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