Kenya is working with a World Bank unit to raise as much as Ksh.500 billion ($3.86 billion) by issuing a diaspora bond, a top official said.
According to Bloomberg, Kenya is now ripe for such a security, and the funds could go toward projects such as building a new facility at Jomo Kenyatta International Airport, expanding the road connecting with neighboring Uganda or extending the standard-gauge railway system, Prime Cabinet Secretary Musalia Mudavadi said in a statement Wednesday.
Kenya is getting technical support from the Multilateral Investment Guarantee Agency — a World Bank member that offers political-risk insurance for projects — for the bond, Mudavadi said.
“This instrument will offer Kenyans abroad a secure investment while diversifying the source of financing for government projects,” he said.
“While providing a competitive return on investment, the bond will help Kenya to systematically move away from costly foreign loans to support its infrastructure and other capital development projects.”
Perfectly pent subject matter, Really enjoyed studying.
Lovely site! I am loving it!! Will come back again. I am bookmarking your feeds also.
Good post. I learn one thing more difficult on different blogs everyday. It can all the time be stimulating to read content from different writers and apply just a little something from their store. I’d choose to make use of some with the content on my weblog whether you don’t mind. Natually I’ll give you a hyperlink in your web blog. Thanks for sharing.