Follow CGSP on Social Media

Listen to the CGSP Podcast

No Reprieve for Kenya’s Loan Bid as Chinese Banks Resist Move

by Eric Olander
Yasuyoshi CHIBA / AFP

Kenya is moving forward with repaying Chinese creditors after the Treasury failed to secure an extension of a 6-month debt repayment holiday that expired in June. The Treasury said on Monday that it will meet all of its Chinese debt obligations, particularly to the China Exim Bank that funded most of the $6 billion Standard Gauge Railway projects.

Chinese creditors made it clear last month that they were in no mood to provide additional leeway after they stopped disbursements to other Kenyan projects that are currently in development.

  • Get a daily email packed with the latest China-Africa news and analysis.
  • Read exclusive insights on the key trends shaping China-Africa relations.
  • Full access to the News Feed that provides daily updates on Chinese engagement in Africa and throughout the Global South.

China, Africa and the Global South... find out what’s happening.

Subscribe today for unlimited access.

OR

Already a subscriber? Log in Click Here to Learn More

You Might Like

As Angola Gets Debt Relief From Its Creditors, Kenya Hopes For the Same From China

Yesterday marked the first major development we’ve seen on the debt story in Africa in quite some time. The fact that Angola was the beneficiary was significant, given its outsized position in China’s ...

Kenya, China Agree to $245 Million Debt Deferral Deal

China and Kenya have agreed to a six-month debt repayment holiday worth $245 million. Treasury Secretary Ukur Yatani announced the deal during a radio interview on Wednesday when he said ...

China’s Share of Kenya’s Total Debt Shrinks as Borrowing Surges

Kenya’s Parliamentary Budget Office (PBO) is forecasting the country’s total public debt will reach $78 billion this June and $86 billion by the same time in 2023. Meantime, China’s share of ...

What is The China-Global South Project?

Independent

The China-Global South Project is passionately independent, non-partisan and does not advocate for any country, company or culture.

News

A carefully curated selection of the day’s most important China-Global South stories. Updated 24 hours a day by human editors. No bots, no algorithms.

Analysis

Diverse, often unconventional insights from scholars, analysts, journalists and a variety of stakeholders in the China-Global South discourse.

Networking

A unique professional network of China-Africa scholars, analysts, journalists and other practioners from around the world.

Subscribe