Sessional Paper No. 03 of 1984 on Kenya Government Guarantee of a Loan to the Tana and Athi Rivers Development Authority by Grindlays Bank P.L.C to Finance Part of the Construction Cost of the Kiambere Hydroelectric Project

Abstract

The Government proposes to guarantee a loan of Deutsche Mark Twenty five million (DM 25,000,000) equivalent to Kenya Shillings One hundred thirty one million seven hundred forty thousand (Kshs. 131,740,000) to be made available to the Tana and Athi Rivers Development Authority (TARDA) by the Grindlays Bank p.l.c. which has its Head Office in London, United Kingdom. The International Bank for Reconstruction and Development (IBRD) and the Yugoslav Bank for International Economic Co-operation are co-financiers of the project. A further Government contribution in the form of equity in the amount of Kshs. 603.8 million would be used to defray the cost of duties and taxes imposed on the project...