According to a report tabled in the House on 14th June 2023, between May 2022 and April 2023 , a total of 19 externally sourced loans have been signed between the National Government and a number of creditors, totaling to Kshs. 182.46 billion.

This report was presented to the Public Debt and Privatization Committee­ led by the Vice-Chairperson Hon. (Dr) Makali Mulu (Kitui Central), by the Parliamentary Budget Office (PBO).

 The loans acquired between May and August 2022 were used to finance different projects including the East Africa Skills Transformation and Regional Integration, De-Risking, inclusion and value enhancement of pastoral economies in the Horn of Africa, National Agricultural Value Chain Development, Syndicated Short Term Multi-currency Facility, Micro, Small or Medium Enterprises Sector Program Support (MSMEs) and Competitiveness & Economic Recovery Support Program (CESRP-II).

Between September and December 2022, the loans were used to finance projects like the Horn of Africa - Groundwater for resilience, Turnkey Medical equipment and refurbishment package for upgrading maternal and newborn care units at 20 sites, building resilience for food and nutrition security in the Horn of Africa (Djibouti, Kenya, Somalia and South Sudan), waste to water management at Lake Victoria South, Rural Kenya Financial Inclusion Facility, Food security and youth employment in Western Kenya through local climate resilience project, Promotion of Entrepreneurship and Employment (Centre for Entrepreneurship) and Second Informal Settlements Improvements Project (KISIP-2).

The Committee was also briefed about the loans acquired between January 2023 and April 2023, which were used to finance projects such as providing additional financing for East Africa’s Centers of excellence for skills and tertiary education in biomedical sciences – Phase 1, Olkaria I & IV Uprating Geothermal Project and the Multinational Horn of Africa lsiolo - Mandera Corridor: El Wak - Rhamu Road Upgrading Project.

Further, the Committee was apprised that the domestic debt amounted to Kshs. 4.7 trillion as of June 2023 and is composed of Treasury Bills worth Kshs. 615.3 billion (13 percent), Treasury Bonds worth Kshs. 3.995 trillion (85 percent), Government Overdrafts worth Kshs. 75.2 billion (two percent) and other domestic debts worth Kshs. 25.6 billion (one percent).  

The Committee will be prodding these statistics further and inviting relevant stakeholders to provide additional information  before presenting a report on the Floor of the House.