Sessional Paper No. 03 of 1986 on Kenya Government Guarantee of a Loan to the Kenya Posts and Telecommunications Corporation (KP&TC) by the European Investment Bank (EIB) to Finance Part of the KP&TC's Third Telecommunications Project

Abstract

The Government proposes to guarantee a loan of European Units of Accounts, twenty two million (ECUs 22,000,000) equivalent to approximately United States Dollars, fourteen million six hundred thousands (US$14,600,000) which is also equivalent to approximately Kenya Shillings, two hundred fourty eight million two hundred thousands (Kshs. 248,200,000) to be made available to the Kenya Posts and Telecamrunications Corporation (KP & TC) by the European Investment Bank (EIB) which has its head office in Luxembourg. The loan will be repaid within a period of fifteen (15) years commencing four years after the signing of the loan Agreement and will bear interest on the principal amount of the loan withdrawn and outstanding from time to time at the nominal subsidized rate in accordance with Article 95 (2) of the Lome II convention...