Follow CGSP on Social Media

Listen to the CGSP Podcast

Chinese Lending Cut Makes Japan Kenya’s Largest New Lender

A sharp cut in Chinese lending to Kenya means that Japan now outpaces it in new lending to the East African country, according to new numbers released by the Kenyan Treasury. Compared to a height of $1.2 billion in 2016, Chinese lending to Kenya for the current fiscal year is projected to total a modest $255 million, just ahead of $202 million from France.

However, China remains Kenya’s largest bilateral creditor, due to large historic loans that were used to build projects like the Standard Gauge Railway. The World Bank is currently Kenya’s largest external lender, surpassing China this year. Kenyan debt to China now stands at an estimated $6.95 billion, with loans from Japan only coming in at $1.42 billion.

  • 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.

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.