Kenya defaults on Sh19.6bn Arror, Kimwarer dams loan

The National Treasury

The National Treasury building in Nairobi.

Photo credit: File | Nation Media Group

What you need to know:

  • Kenya defaulted on the Sh19.6 billion loan for the controversial Arror and Kimwarer dams having failed to make the first instalment payments to Italian Bank Intesa San Paolo.
  • The Italian bank says that Kenya has failed to make the payment amid investigations into the billions of shillings that were shared in foreign banks and never wired to Kenya.

Kenya defaulted on the Sh19.6 billion loan for the controversial Arror and Kimwarer dams having failed to make the first instalment payments to Italian Bank Intesa San Paolo in May.

Welcome!

You're all set to enjoy unlimited Prime content.