Sessional Paper No. 07 of 1986 on Kenya Government Guarantee of a Loan to the Industrial Development Bank Limited from African Development Bank

Abstract

The Industrial Development Bank (IDB) was established at the initiative of the Government in January, 1978 to promote and stimulate industrial development of Kenya by providing medium and long-term loan finance and participating in equity of various industrial projects which are economically sound, technically feasible and financially viable. The Government proposes to guarantee the obligation of the Industrial Development Bank Limited in respect of a loan of UA. 20 million equivalent to approximately Kenya Shillings three hundred and eighty two million seven hundred thousand (Ksh.382,700,000) to be granted to IDB by the African Development Bank.