Kenya: Kenya Scales Back on Ksh 193B UAE Loan After IMF Raises Concerns

President William Ruto’s administration will not receive the entire Ksh193 billion ($1.5 billion) loan facility from the United Arab Emirates (UAE) in a single disbursement.

According to Bloomberg, the government now plans to stagger the disbursement in tranches to remain within the borrowing limits set by the International Monetary Fund (IMF).

Following the paradigm shift, Kenya will now receive the first tranche of disbursement worth Ksh90 billion in January next year with the rest of…