Big blow to China after denying UHURU and RAILA another loan to extend SGR to Kisumu-See who has given them the money

Friday May 3, 2019-The World Bank has approved a loan to boost the implementation of Kenya Affordable Housing Finance Project (KAHFP) under President Uhuru Kenyatta’s Government’s Big 4 Agenda.

This is after Uhuru and Raila Odinga were denied the loans by China to extend the SGR to Kisumu.

World Bank on Wednesday announced that the KAHFP will support the establishment and operationalisation of the Kenya Mortgage Refinance Corporation (KMRC), a largely private sector-owned and non-deposit taking financial institution supervised by the Central Bank of Kenya (CBK).

The loan is expected to provide a silver lining for the Jubilee Government after public skepticism over the intended project.

KMRC will be 80 percent owned by the public and the remaining 20 percent by the National Treasury.

“The project will also assist the Ministry of Lands and Physical Planning to improve property registration and address structural constraints in the land management system in Kenya,” the World Bank stated in a statement.


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