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, 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
Topic |
China-Africa relations
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