Kenya Signs KSh23B Loan for ITS Plan

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Kenya secured a KSh 23 billion concessional loan from China Exim Bank to fund the Intelligent Transport System Project. Treasury CS John Mbadi said the project will modernize traffic management, cut congestion, and support smart-city infrastructure. China Exim Bank reaffirmed its long partnership with Kenya, citing major past projects. The deal comes days after the US cancelled a USD 60 million MCC funding agreement that was meant to finance Nairobi’s Bus Rapid Transit system.