Sessional Paper No. 04 of 1979 on Government Guarantee of Moneys lent to Development Finance Company of Kenya Limited by EIB Luxembourg of the European Economic Community to Finance the Various Development Projects

Abstract

The Government proposes to·guarantee a loan of 5,000.000 European Units of Accounts (equivalent to approximately Kenya Shillings fifty million) to be made to Development Finance Company of Kenya Limited by the European Investment Bank, Luxembourg, in accordance with European Economic Community's indicative aid progranune to Kenya under the ACP/EEC Convention of Lome. The Loan is to be utilised for financing of industrial projects by the Development Finance Company of Kenya Limited and will supplement the Government's efforts in the development of the industrial sector.