Kenya receives $210 mln in loans from TDB, finance minister says
THE Trade and Development Bank (TDB) has lent Kenya $210 million, Finance Minister Njuguna Ndung'u told Reuters on Friday, ahead of the maturation of a $2 billion Eurobond in June. Falling hard currency reserves, a steep weakening of the Kenyan shilling and revenue challenges have raised questions about the country's ability to make the Eurobond payment, although the International Monetary Fund (IMF) said on Thursday that it does not expect Kenya to default. The loan facility by the TDB, an African development finance institution serving 25 member states, is part of its mandate to raise $1 billion for Kenya's liability management, Ndung'u…