Senators on Wednesday afternoon approved the adjustment of the National Assembly-backed revised borrowing ceiling to Ksh.9 trillion.
The approval by the Senate follows a vote on the motion on Wednesday afternoon with the proposed revision garnering the support of 30 of the 47 senators.
Out of the 37 senators present, only seven voted against the motion.
They are Mutula Kilonzo Jr (Makueni), Moses Wetangula (Bungoma), Boniface Kabaka (Machakos), Enock Wambua (Kitui), Samson Cherargei, Aaron Cheruiyot (Kericho) ,Mithika Linturi (Meru)
The new Ksh.9 trillion borrowing ceiling is expected to be anchored in law, replacing the current threshold of debt in net present value (NPV) at no more than 50 percent of Gross Domestic Product (GDP) as outlined in the Public Finance Management Act of 2012.
The vote also serves to unlock an estimated Ksh.421 billion in program loans support from both multi-lateral and bilateral partners whose signing was pegged on the allowance of further lending by government.
Among the projects lined up for new loans support include the construction of the Mombasa Gate Bridge and Konza City.
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Good work Peris
Your Comment. waste time nautapata kiti ya kibra.
Your Comment usitishiwe n mtu unatosha my bro
mihadarati ni bhang
McDonald if fit for the job, why are you underrating youths whenever they want to seek leadership?...... Mariga GO! GO!.........
Your Comment Ruto,Khalwale and Mariga will be crushed by the ODM juggernaut by 9am.
main n acting..ndo tuaje mihadarati
what a day to be in South Africa.How does killing innocent bring justice on your land instead it just bring mysery to your country.What a shame!We were counted to be amongst the most peaceful contininent.,but now what is the rest of the world thinking about us.BE CAREFUL FOR THAT WILL BE THE WAY YOU'LL END YOUR WELL BEING.SAY NO TO XENOPHOBIA
R.I.P an African great nationalist
op he will b missed for his corrupted leadership not only in Zimbabwe but also in Africa. hahaha RIP