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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After wametoa aflatoooooooostiiiin
What was the first thing that you saw? Agwambo ama? I have never believed you are blind. Toa Korir 2022
This is shameful.....a situation I wouldn't wish to happen to
my enemies
Stupidly educated ...too opppionated to be used anywhere..why announce to the world what you're doing
Interesting piece, spot on Nyakundi and his extorting schemes.
The two have shown no interest in BBI why can't you lock them out in BBI campaigns so that they pay some goons and go with them at their own engagements
May his soul rest in peace
Raila has no friends. He is perennial looser and everyone be like him.
Never be a political enemy to anybody. Days repeat after a week!
We sugar cane farmers have a very big problem, tumesota sana when we are working hard in our farms