Proceeds from the bond will settle a portion of an estimated Sh175 billion in bank loans, which helped clear historical road sector pending bills up to December 2024.
By
Kepha Muiruri
Business Reporter
Nation Media Group
The Kenya Roads Board (KRB) has trimmed its roads bond target to Sh120 billion from Sh175 billion, revealing a reduced quantum of funding to reimburse bank loans taken to compensate contractors for pending bills.
The Roads Annuity Programme was approved by Cabinet in March 2015 and planned for the upgrade of up to 10,000 kilometres of road.
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