Kenya has received a Sh. 10 billion agricultural loan from India. This came as President Uhuru Kenyatta who is on a state visit to India held bilateral talks with India Prime Minister Narendra Modi.
“The government is keen to increase the volume and value of Kenya’s export base from agriculture and mineral-based raw products to value added manufacturing products,” said Mr Kenyatta at a joint press briefing with Prime Minister Narendra Modi in New Delhi.
Kenya’s trade with India is tilted in favour of the emerging Asian giant. In 2015 Kenya imported goods worth Sh205 billion from India, while exports to the country stood at less than Sh10 billion.
Several Indian multinationals have business interests in Kenya, including the ongoing construction of a power transmission line under a Line of Credit (LOC) of Sh6.16 billion ($61.6 million).
