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Kenya Railways Corporation (KRC) has failed to repay a loan undertaken for the implementation of the Standard Gauge Railway (SGR) amounting to Sh569.3 billion over the past six years, a damning report by the Office of the Auditor General has revealed.
The loans were advanced in 2014 and 2015 to fund the SGR Project, intended to be implemented in four phases. However, Auditor General Nancy Gathungu’s report highlights that KRC has not been generating sufficient revenue to service its on-lent loans.
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