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Finance Ministry Presents $99.5m Borrowing Request


By Rogers Wanambwa

KIU, Main Campus – The Finance State Minister, David Bahati, yesterday presented a request to borrow to the tune of SDR 72.3 million (approximately $99.56 million) from the International Fund for Agricultural Development (IFAD). 

In addition, $30m will be borrowed from the OPEC Fund for International Development geared towards financing the National Oil Seeds Project. 

Bahati presented the request on the floor of Parliament yesterday, Wednesday, 31st March, 2021. 

However, Parliament is yet to approve or disapprove the request which is one in a number borrowing requests that have been made the Finance Ministry since the year begun.