Kenya is now in negotiations with International Finance Corporation (IFC ) for a line of credit of $1.5 billion. The credit is aimed at financing road construction in Kenya.
The road in question is part of the construction of 4,000km of urban roads. In addition, it will be used to fund 6,000 kilometres of rural roads earmarked for funding from state coffers.
Nevertheless, government plans to raise $5.5 billion to be able to complete 10,000km of road construction in Kenya. This follows a move by local banks to decline a request to lend the money to the contractors.