About 16 benchmark bonds have so far been reopened bringing into the market more than Ksh.138 billion and providing critical financing for the national recurrent and development budget as per Government’s fiscal policy. 3.
Project-specific (infrastructure) bonds – The Government of Kenya took a bold step in February 2009 to issue the first project/sector specific bond with an aim to fund key infrastructure projects and set pace for public, private as well as supranational agencies to tap the market for long term funding through bond issuance.