Nairobi, July 13 -- Kenya is eyeing an additional Sh64.6 billion from a Japan-backed Samurai bond in the current financial year, as the government looks to broaden its sources of credit offered on terms more favourable than market rates.

National Treasury Cabinet Secretary John Mbadi says that after securing Sh22.1 billion from Japan in the just-ended fiscal year, the government is keen to further tap the East Asian market owing to the low interest rates on the loans.

Nairobi has long floated the idea of a Samurai bond to diversify its external borrowing from dollar-denominated facilities and commercial debt from Eurobonds and syndicated loans. It has also mulled issuing other facility types such as Shariah bonds, green bonds and Chines...