Brazil’s BNDES loans $80M to Kenya to mechanize agriculture; in talks for larger-scale energy loans

| June 26, 2012

In Kenya, the Brazilian National Development Bank (BNDES) extended an $80 million (Sh6.7 billion) soft loan to the government to assist in the mechanization of agriculture and $150 million (Sh12.6 billion) for the construction of link roads and interchanges to decongest the capital city of Nairobi.

During talks with the president of the development bank, Kenyan President Kibaki sought to also establish a credit line of up to $2 billion (Sh167.6 billion) to finance priority projects in Kenya including agricultural development, infrastructure and energy.

In the energy sector, President Kibaki is seeking to finance the production of sugar, ethanol and co-generation of electricity.

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Category: International

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