james wika 
Citibank, N.A., London Branch (“Citi”), Rand Merchant Bank, a division of FirstRand Bank Limited (“RMB”), The Standard Bank of South Africa Limited (“Standard Bank”), Standard Chartered Bank (“Standard Chartered”) and their respective Affiliates, mandated by the Government of the Republic of Kenya as Bookrunners and Initial Mandated Lead Arrangers, are pleased to announce the successful closure of a USD 500 million 3-year and 5-year Syndicated Medium Term Loan (the “Facility”).
The Africa Export-Import Bank joined the Facility as Bookrunner, and Mandated Lead Arranger and its subscriptions allocated towards the longer-term tranche.
The proceeds from the Facility will be used by the National Treasury to finance the development projects as per the development budget approved by the Kenyan Parliament for the Fiscal Year 2022/2023.
