Sessional Paper No. 05 of 1989 on Kenya Government Guarantee of a Loan to Kenya Ports Authority of Nederlands Investerings Bank for the Procurement and Rehabilitation of Kenya Ports Authority Equipment

Abstract

The Kenya Ports Authority intends to borrow seven million, two hundred and eighty seven thousand Netherlands Guilders (NLG 7,287,000) equivalent to Kenya shillings, seventy two million eight hundred and seventy thousand, (KSh.72,870,000) from the De Nederlandse Investeringsbank Voor Ontwikkelingslanden N.V. for the rehabilitation to forklift trucks and the procurement of new prime movers and shunting tractors. The loan will carry a maturity of 16 years i.e. 9 years repayment period and 7 years grace period. The loan will bear a concessionary rate of interest of 2¼ per annum on the outstanding amount. The loan is conditional on a government guarantee.