Public Finance Management Act

140. Authority for borrowing by county governments

Edition: 2026-09-25 · In force

140. Authority for borrowing by county governments

(1)A County Executive Committee member for finance may, on behalf of the county government, raise a loan for that Government’s purposes, only if the loan and the terms and conditions for the loan are set out in writing and are in accordance with—

(a)Article 212 of the Constitution;

(b)sections 58 and 142 of this Act;

(c)the fiscal responsibility principles and the financial objectives of the county government set out in its most recent County Fiscal Strategy Paper; and

(d)the debt management strategy of the county government over the medium term.

(2)A loan may be raised either within Kenya or outside Kenya.

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Source: Kenya Law