Time flies with great content! Renew in to keep enjoying all our premium content.
Prime
China takes up 87pc of Kenya interest payment
SGR train at the Nairobi terminus. The deal to fund the first phase of the rail saw Beijing overtake Tokyo as Kenya’s largest bilateral lender. FILE PHOTO | NMG
Beijing gobbled up 87.08 percent of the cash Kenya spent on interest payment to its bilateral lenders in the year through June, 2019, compared with 81 percent a year earlier, new data shows.
Treasury statistics, that partly reflect the cost of loans to taxpayers, show interest payments to Chinese State-owned banks accounted for Sh29.21 billion of the Sh33.54 billion total interest spend on bilateral loans.
