Kenya’s deal with China came just hours before it was due to make its first repayment on a US$1.48 billion loan used to build a railway line. Photo: Xinhua
Kenya’s deal with China came just hours before it was due to make its first repayment on a US$1.48 billion loan used to build a railway line. Photo: Xinhua
China /  Diplomacy

China, Kenya agree repayment holiday on US$245 million worth of debt

  • Deal was struck just hours before Nairobi was due to make its first repayment on a US$1.48 billion loan from the Export-Import Bank of China
  • East African nation became mired in debt after its tax revenue slumped because of the coronavirus pandemic

Jevans Nyabiage

Updated: 6:00pm, 23 Jan, 2021

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Kenya’s deal with China came just hours before it was due to make its first repayment on a US$1.48 billion loan used to build a railway line. Photo: Xinhua
Kenya’s deal with China came just hours before it was due to make its first repayment on a US$1.48 billion loan used to build a railway line. Photo: Xinhua
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