More
    HomePoliticsChina changes Kenya's loan terms

    China changes Kenya’s loan terms

    Published on

    After careful consideration of Kenya’s borrowing and utilization requirements, China has established new loan terms.

    This is a major departure from China’s previous loan engagements with Kenya and more evidence that China’s lending policy is undergoing a dramatic shift.

    China is, however, prioritizing development projects that are in line with the country’s economic plan. One such project is the Belt and Road Initiative (BRI), a massive infrastructure project that spans many African countries.

    “As equal partners, we are ready to listen, have productive conversations and enhance our partnership. Since the Chinese may be able to participate in certain of our programs, the two of us will need to mutually agree on the order of our future cooperation.” said china ambassador to Kenya

    Although the new Kenyan government may have trouble finding money for China-backed infrastructure projects, China’s ambassador to Kenya assures us that relations would remain amicable.

    Beijing has funded major infrastructure projects in Kenya, especially under the presidency of the recently retired Uhuru Kenyatta, and the Kenyan capital, Nairobi, owes her more than Ksh700 billion (almost $42bn).
    This change ensures the country will be a participant in the capital market throughout the current and subsequent fiscal years.

    Subscribe for the Latest news updates.

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Captcha verification failed!
    CAPTCHA user score failed. Please contact us!

    Follow Us

    7,089FansLike
    61FollowersFollow

    Latest

    If Cherera is fired, Azimio will boycott the 2027 election.

    If four dissident Independent Electoral and Boundaries Commission (IEBC) commissioners are removed from office,...

    Doctors to strike over frustration with Ruto’s government.

    As a result of the government's refusal to implement the Collective Bargaining Agreement  (CBA) for...

    Safaricom launched M-Pesa Go for youngsters.

    Safaricom, the major telecom provider in Kenya, has introduced a new financial product called...

    KDF has sent a third group of soldiers to the DRC Congo.

    The Embakasi Garrison in Nairobi has sent a third group of Kenyan soldiers to...

    More like this

    If Cherera is fired, Azimio will boycott the 2027 election.

    If four dissident Independent Electoral and Boundaries Commission (IEBC) commissioners are removed from office,...

    Petition to have Raila join the government submitted.

    Fred Ogolla of Siaya County petitioned Parliament to change the Constitution. On Thursday, November 24,...

    Azimio and Kenya Kwanza collaborate to amend the constitution regarding CDF.

    In an effort to permanently establish the constituency development fund (CDF), President William Ruto...