Kenya in talks for a Ksh.194B commercial loan with UAE, Mbadi says

In late September a source familiar with the situation told Reuters Kenya's government was close to agreeing to the loan, aimed at bridging the East African nation's financing gap.

"This loan is cheaper than the Eurobond we borrowed at 10.7%," Mbadi told a news briefing on Wednesday, referring to a $1.5 billion dollar-denominated bond issued in February to partially buy back a portion of a $2 billion Eurobond that was settled in June.