Sessional Paper No. 03 of 1977 on Kenya Government Guarantee of a Loan to Kenya Pipeline Company made by Citibank (Channel Islands) Limited

Abstract

This Sessional paper documents a guarantee by the government of Kenya the obligation of the Kenya Pipeline Company Limited in respect of a loan granted to it by Citibank (Channel Islands) Limited. The purpose of the loan is to finance the remaining part of the Mombasa-Nairobi Oil products pipeline and the Nairobi Airport aviation fuel terminal. The project is due to be completed and commissioned by 1st January, 1978. The loan to be guaranteed is a euro-dollar loan amounting to U.S. $10 million which at the present rate of exchange is equivalent to approximately KE 4,170,000.