Education CS George Magoha has announced pans to launch a loan facility targeting 3,000 private schools in Kenya.
CS Magoha announces Sh7B to help private schools
We understand the situation - CS Magoha
While rehashing that schools will re-open in January 2021, Professor Magoha explained that the government is seeking to help private institutions wade the tough times with the new loan facility.
This coming after the Kenya Private Schools Association (KPSA) revealed that a number of private schools are having difficulties in meeting their operational costs.
"We understand the situation that they are in and that’s why the government has provided a Ksh7 billion shillings in concessional loan for private schools," the CS explained.
He further outlined that the loan will have an interest rate of either 2.5% or 3.5% depending on the institution.
The announcement comes as some of the private schools are facing auction and others have been converted into other business ventures.
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