Sessional Paper No.01 of 1980 on Government Guarantee of a Loan to the Kenya Power Company Limited from the International Bank for Reconstruction and Development (The World Bank) for Financing the Development of the Potential of the Geothermal Field at Olkaria Located South of Lake Naivasha

Abstract

In accordance with the provisions of Section 5(1) of the Guarantee (Loans) Act, (Chapter 461) Laws of Kenya, the information set out in the paragraphs following is laid before the National Assembly for the Assembly's consideration and approval. The Government of Kenya proposes to guarantee a loan of an amount in various currencies equivalent to forty million U.S. dollars (US $340,000,000), which is equivalent to Kenya Pounds fourteen million, seven hundred and eighty thousand (K£ 14,780,000) at current exchange rates to be made to the Kenya Power Company Limited a wholly owned Government Company, by the International Bank for Reconstruction and Development (The World Bank)...