China’s loans for President William Ruto’s first full-year budget will be the smallest in 16 years as Beijing adopts a more cautious approach to lending in Africa where some nations have reached the limit of their borrowing capacity and the prospect of default looms.
Treasury documents made public on Tuesday show that Chinese funding for the year starting July will fall to Sh1.74 billion from Sh29.5 billion in the current fiscal year and Sh71.2 billion in 2017.
