Sessional Paper of 2022 on Government Guarantee on Borrowing by Issuance of Ksh 1.16 Billion Infrastructure Bond by Laikipia County Government

Abstract

In accordance with the provisions of Section 58 (1) of the Public Financial Management Act 2012, the following information is laid before the National Assembly for consideration and approval. Laikipia County Govemment is one of the 47 counties established under the Constitution of Kenya and therefore qualifies to seek a National Government guarantee to borrow as provided for under Section 58(1) of the PFM Act. Laikipia County Government submitted a request to the National Treasury for a guarantee to issue Ksh 1.16 billion Infrastructure Bond. This is the first County that has submitted a request for the guarantee for the issuance of a domestic bond in the form of an Infrastructure Bond The main objective of the Infrastructure Bond is to implement projects that involve provision of water for production, improvement of business environment by upgrading markets and town's infrastructure which will provide additional jobs to the people of Laikipia hence improve their household income and livelihoods.