eliakeem
JF-Expert Member
- May 29, 2009
- 17,214
- 15,853
It's NOT a loan to the country but to the Company undertaking the project. Jamaa mbona uelewa wako finyu hivi?
Ni loan but in terms of off balance sheet or limited recourse or non limited recourse. To understand this you have to know the mechanics of project and public finance.
You can't say it is not the loan to GoK while is going to give the guarantee to commercial bank that the project company is going to borrow money.
I think you understand the meaning of government guarantee.