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Category: Loans

What’s Driving the Steady Decline in Chinese Overseas Development Lending?

There was a time when Chinese lending to developing countries rivaled the World Bank. Those days are now long gone as Chinese overseas development lending has been on a steady downward trajectory.

Analysis from Cobus van Staden

Top State Department Official Says China’s Debt Relief Offer to Sri Lanka is “Not Enough”

Another senior U.S. diplomat has accused China of not doing enough to resolve Sri Lanka’s debt renegotiation, a sign that the island’s financial crisis is increasingly being framed geopolitically.
U.S. Under Secretary of State for Political Affairs, Victoria Nuland said: “What China has offered so far is not enough. We need to see credible and specific assurances that they will meet the IMF standard of debt relief.”

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China Blocked Kenya From Getting Competitive Bids to Build Costly Railway, Supreme Court Told

Kenya’s Supreme Court hearings into the Standard Gauge Railway (SGR) deal are revealing a deal tainted by collusion between Chinese and Kenyan actors. The account emerging from testimony shows that the deal defied oversight from the start. COMPETITIVE BIDDING: Financing depended on China ...

Why Chinese Lending to Pacific Island Countries Has Steadily Declined in Recent Years

Chinese lending to Pacific Island Countries (PICs) is now at its lowest level in 15 years, according to new data published by the Australian think tank Lowy Institute. The findings may come as a surprise, given China's heightened ...

China’s Overseas Development Finance Totaled $10.5 Billion in 2020-21, Lowest in Recent Years

By Rebecca Ray After providing a staggering amount of finance for overseas development projects in the wake of the global financial crisis, Chinese overseas development finance has been on a general downward trend for several years. New data shows the pandemic ...

Djibouti Has a Very Specific Debt Problem…

Djibouti this week reportedly suspended debt repayments to its two major creditors, China and Kuwait, due to a major increase in debt servicing costs likely caused by interest rate hikes and other external factors this year. A quick gander at this table, 

Djibouti Suspends Debt Payments While Rwanda Gets (Just a Little) Relief From China

🇩🇯 DJIBOUTI: The government reportedly suspended debt repayments to two of its largest creditors, likely China and Kuwait, in response to a dramatic increase in the country's debt servicing costs in 2022, according to a new World Bank report. (SOUTH CHINA MORNING POST)

Just as in Nigeria, Kenyan Lawmakers Are Also Confused About What It Means to Waive “Sovereign Immunity” in Chinese Loan Contracts

Anger is mounting across Kenyan society over the terms of the loan agreements with the China Exim Bank for the multi-billion dollar Standard Gauge Railway that were released by the government on Sunday. Members of Parliament are sounding off in the ...

New Kenyan Government Releases Controversial Chinese Loan Agreements For Standard Gauge Railway

Kenya's new Transport Minister Kipchumba Murkomen, rocked the political establishment in Nairobi over the weekend when he released the first details about the controversial multi-billion dollar loan from China to build the Standard Gauge Railway (SGR).

Why Kenya Will Struggle to Repay the Chinese Loans for its Standard Gauge Railway

Newly-elected Kenyan President William Ruto's fulfillment of a campaign promise that reversed his predecessor's mandate that cargo from the Port of Mombasa has to be transported via the Standard Gauge Railway instead of trucks may have been smart politically, but it will likely cripple the ...

China’s Lending Will Be Demand-Driven: Ambassador

China will not promote loan-supported projects to the Global South but will be led by recipient country demand. This was one of the takeaways from a recent interview with China’s ambassador to Kenya, Zhou Pingjian.

Kenya Wants to Stretch Rail Loan Repayment Window to 50 Years

Kenya hopes to renegotiate the loan for its Chinese-built Standard Gauge Railway to be repayable over fifty years, the country’s incoming Transport Secretary, Kipchumba Murkomen, said during his confirmation hearing this week.  “We are choked by loans,” he ...
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