The State of Kenya will be required to pay $525 million to the US Exim Bank after the African country's national air carrier Kenya Airways defaulted on a loan. The loan of $841.6 million taken out by the airline in 2017 was meant to be used to purchase seven aircraft and one engine. The Kenyan government backed the loan from the US Exim Bank, which guaranteed to pay $525 million if the airline defaulted on the loan.
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