Sessional Paper No.15 of 2012 on Kenya Government Guarantee of a Loan of US $93,000,000 Equivalent to Ksh.7,994,280,000 from European Investment Bank to Kenya Airports Authority for the Rehabilitation and Expansion of the Jomo Kenyatta International Airport

Abstract

In accordance with Section 58 (i), of the Public Financial Management Act, 2012 of the Laws of Kenya, the following information is laid before the National assembly for consideration and approval. The Kenya Airports Authority is a State Corporation, established under an Act of Parliament Cap. 395 of the Laws of Kenya. It is 100 percent Government owned, and falls under the Ministry of Transport. The primary function of Kenya Airports Authority is management infrastructural and facility development, and enhancement of safety and security within Kenyan Aerodromes. With the full support of the Government, the Kenya Airports Authority has successfully negotiated for a loan of US$93 million equivalent to Kshs. 7.99 billion from European Investment Bank to co-finance the rehabilitation and expansion of Jomo Kenyatta international Airport leading to its capacity enhancement from 2.5 million passengers currently to 9.3 million passengers in 2015...