Section 15, The Public Debt Management Act, 2011.

(1) Subject to section 118 of the Constitution, where the Minister is satisfied that it is in the public interest, he may on behalf of Government provide loans or credits to local councils, public enterprises and any other entity on such terms and conditions as may be approved by Parliament. (2) Prior to extending a loan or credit pursuant to subsection (1), the risk to Government in providing such loan or credit shall be assessed. PART VII–BORROWING BY LOCAL COUNCILS AND PUBLIC ENTERPRISES