Governor Ndiritu Muriithi
File | Nation Media Group

Counties get greenlight to borrow loans of up to Sh60bn

What you need to know:

  • Previously, counties could borrow cash from banks for recurrent expenditure, but there was no provision for long-term development borrowing.
  • Laikipia is set to be the first county to borrow for development as it is scheduled to hold a public launch of its Credit Rating Report today morning in readiness for floating a sovereign bond.

County governments now have the greenlight to borrow up to Sh60 billion for development projects in a deal reached between the Intergovernmental Budget and Economic Council (IBEC) and the National Treasury.

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