China Services 48% of Kenya’s Debt

0
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” 

Advertisements

Thank you for visiting our site

This site uses Akismet to reduce spam. Learn how your comment data is processed.