Sessional Paper No. 01 of 1993 on Kenya Government Guarantee of a Loan to Kenya Tea Development Authority from European Investment Bank and Commonwealth Development Corporation (CDC)

Abstract

The Kenya Tea Development Authority (KTDA) a wholly owned Government Company, is undertaking a project comprising the construction of one tea factory in Vihiga District and expansion of 23 existing tea factories under its management. The Company's factories to be expanded in 1992/93 and anticipated to be commissioned in 1993. In accordance with the provisions of the Guarantee (Loans) Act (Cap. 461) the following information is laid before the National Assembly relating to a guarantee by the Government in respect of a loan of ECU 18,000,000 equivalent to K£65,734,650 from European Investment Bank and a loan of Stg£13,000,000 equivalent to K£60,509,345 from Commonwealth Developcent Corporation (CDC) to Kenya Tea Development Authority.