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, 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

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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