Reactions As Kenya Seeks A 40-years Loan From The Korean Government
The government has moved to Korean Export and Import Bank to seek a long-term loan of Ksh. 6.4 Billion for Bus Rapid Transport.
Otieno Cynthia 
The long term-loan loan from Korea will be serviced by the taxpayers up to January 29, 2061.
The National Treasury signed the Sh6,365,150,000 loans at an exchange rate of Sh107.85.
While revealing to the parliament, the National Treasury stated that the loan will attract an interest rate of Sh0.1 percent per anum and a service charge of Sh0.1 percent per annum on the undisbursed loan amount.
This comes amidst the pending disbursement of the January 29, 2021, signed loan.
Kenya plans to launch six Bus Rapid Transport (BRT)corridors in Nairobi, a move that aims at improving a city’s public transport network relative to conventional buses.
Prioritized corridors are the Jomo Kenyatta International Airport to Likoni, James Gichuru-Rironi, and Bomas to Ruiru roads. Other motorways are Ngong Road, Juja, Mama Lucy, T-Mall, and Balozi to Imara roads.
The corridors are expected to hold up to 950 high-capacity buses reducing travel time and cost by up to 70 percent.
