Sessional Paper No. 06 of 1968/69 on Guarantee for a Loan from the Commonwealth Development Corporation to the National Housing Corporation

Abstract

The Commonwealth Developoment Corporation (C.D.C.) has offered a loan of £250,000 sterling to the National Housing Corporation (N.H.C.) for the construction of rental housing in Nairobi. The loan is for 20 years at an interest rate of 8¾-96repayable in sterling in equated annual instalments and is conditional on the Government Giving a guarantee to repay the loan in the event of default by the National Housing Corporation. In accordance with the Loans (Guarantee) (Amendment) act 1968, the approval of the House is sought for such a guarantee being given…