Common Contracts
1 similar Loan Agreement contracts
Ex-ante EvaluationLoan Agreement • September 28th, 2010
Agriculture has consistently been a cornerstone of the social economy of the Republic of Kenya (hereinafter referred to as “Kenya”). The agricultural population accounts for more than 50% of the workforce, and serves as an important source for labor absorption in rural areas. Kenya’s real GDP in 2007 was approximately 1.34 trillion KShr (approximately 1.67 trillion yen), and it achieved an average growth rate of roughly 6.1% over the years 2003 to 2007. The agricultural sector accounts for approximately 24% of total GDP, and grew by about 3.9% on average during this same period. Of Kenya’s three major staple food crops of maize, wheat, and rice, the demand for rice in particular, which is easy to cook, has been shooting up mainly in urban areas. During the six year period starting in 2002 the quantity of rice imported increased 1.9-times, while the quantity consumed (total of the quantity produced and the quantity imported) rose 1.7-times.
