Treasury raises Sh104bn to pay road contractors

NAIROBI, Kenya, Nov 5 - The National Treasury has raised Sh104 billion through a bridge facility under the Kenya Roads Bond programme to clear part of the Kenya breaking news | Kenya news today |..

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The National Treasury has raised Sh104 billion through a bridge facility under the Kenya Roads Bond programme to address outstanding payments to road contractors.

Sh93 billion has already been disbursed to contractors.
The funds were raised using the Road Maintenance Levy Fund (RMLF) as collateral.
Treasury Cabinet Secretary John Mbadi stated that a larger Sh175 billion bond issue is expected later this month to finalize the securitization plan.

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