The Treasury has revealed the State forcibly took over Kenyatta University referral hospital from the higher learning institution after it defaulted on a Sh10 billion Chinese loan.
Treasury secretary UKur Yatani says the conversion of the Kenyatta University Teaching, Research and Referral Hospital (KUTRRH) into an independent State agency is aimed at recovering $99 million (Sh11.18 billion under prevailing rates) which the State borrowed from Export-Import Bank (Exim) of China on behalf of the university a decade ago.
