NAIROBI, 29 Sept. - (ANA) - Kenya is seekinga loan of $1,5 billion from Abu Dhabi to fund its budget deficit, according to reports. 

 

The loan is expected to attract an interest rate of about 8.2%, the reports said, which is lower than the interest charged on the East African nation’s sovereign bonds. 

 

The loan would be the latest in a series of bailouts the United Arab Emirates’ Abu Dhabi has extended to African countries in recent years as it seeks to build influence on the continent.   - (ANA) -

 

AB/ANA/29 September 2024 - - -