China Services 48% of Kenya’s Debt

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Chinese and Kenya

Somalilandsun- Kenya’s  servicing of loans from China accounted for 48 percent of its total foreign debt servicing during the period July-September 2017, second only to servicing paid to the World Bank’s International Development Association.

As of September 2017, Kenya owed foreign commercial banks $6.86 billion, an increase of 231 percent over three years earlier. Of this amount, $4.73 billion was owed to Chinese banks, up from $922 million three years ago, writes Constant Munda in an article titled Beijing Takes Up Nairobi’s Foreign Debt Spend” 

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