Sessional Paper No. 01 of 1982 on Government Loan Guarantee of Loan to the Cotton Lint and Marketing Board (CLMB) from a Consortium of Local Bank for Financing the Cotton Processing and Marketing Product

Abstract

In accordance with the provisions of the guarantee (Loans) Act (Cap 461) of the Laws of Kenya, the following information is laid before the National assembly Kenya government guarantee by government of the republic of Kenya of the obligation of the cotton Lint and seed marketing board in respect of long term overdraft facility of up to Ksh 160000000 from a consortium of local banks. The government guarantee is a condition precedent for world bank funding of a major portion of the costs of the cotton processing and marketing project ( hereinafter called the project negotiated in December 1981by the government)…