Sessional Paper No. 04 of 1970 on Government Guarantee of Bank Overdraft Facilities to be Extended to East African Airways Corporation by The National Bank of Kenya Ltd.

Abstract

In accordance with the provisions of section 5 o{ the Loan (Guarnntee) Act 1966, the following information is laid before the Natioual Assembly in connexion with a proposed guarantee by the Kenya Government of a bank overdraft facilities in the amount of K£250,000 to be extended to East African Airways Corporation ·by the National .Bank of Kenya. East African Airways Corporation is a · firmly estsblished international airline owned by the Governments of Kenya, Uganda and Tanzania and which over the years has continued to expand its operations over international routes. Tt now provides regular services to most major cities of Western Europe, and the Far East. In the African continent, apart from providing intercity services in the domestic area of East Africa, it ·provides links with Zambia, Malawi, Somalia, Ethiopia, Congo (Kinshasa), Nigeria and Ghana. Thus, the airline is not only a vital factor in the promotion of intercity connexion within the African Continent but also plays an important role in the promotion of tourism to Kenya andl the other Partner States. 1n addition to this it provides valuable air cargo services particularly for horticultural and dairy products of Kenya...