Kenya's $500 Million Bond Sale to Widen Funding Pool in China

Kenya is set to raise $500 million through its debut bond sale in China, seeking to diversify its funding sources. The planned sale, known as a panda bond, is scheduled to take place in the fiscal year commencing July 1. It aims to address the country's budget deficit. This move underscores Kenya's strategy to tap into foreign funds and expand its financial support base. The funds raised from the panda bond sale will contribute to financing various national initiatives, ultimately enabling Kenya to strengthen its economic resilience and growth prospects.