President Uhuru Kenyatta defends Standard gauge railway project
Posted by African Press International on January 29, 2014
Kenya’s President, Uhuru Kenyatta says that his Government will continue with the implementation of the Standard Gauge Railway Project as planned. The project has been under criticism over alleged inflation of prices. The President however says the project has been done in a transparent manner. It has been embraced due to its transformative role, and Kenya Railways and The China Road & Bridges Corporation had done the feasibility study and preliminary design of phase one of the projects. The project is financed by China’s Exim Bank that will provide a commercial loan, of 1.6 billion dollars and a concessional loan of 1.63 billion dollars, which makes a total of 3.23 billion dollars, for the development of phase one of the project.