The Laikipia County government’s request to borrow Sh 1.16 billion through a domestic infrastructure bond at the stock market has been approved by the cabinet.
This makes the county the first, since the advent of devolution, to float a bond to raise money in the Nairobi Securities Exchange.
This follows a hearing in a cabinet meeting chaired by President Uhuru Kenyatta.
The approval followed that of the Intergovernmental Budget and Economic Council, the National Assembly and the Laikipia County Assembly.
This comes as Laikipia has lined up 16 projects for financing.