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Kenyan President William Ruto reached Beijing to participate in the third Belt and Road Forum for International Cooperation. The event scheduled for two days in the Chinese capital Beijing will discuss a number of issues that have significant diplomatic relevance and coincide with the 10th anniversary of the Belt and Road Initiative (BRI).
Kenyan President William Ruto reached Beijing to participate in the third Belt and Road Forum for International Cooperation. The event scheduled for two days in the Chinese capital Beijing will discuss a number of issues that have significant diplomatic relevance and coincide with the 10th anniversary of the Belt and Road Initiative (BRI).
The BRI was initiated by China in 2013. It aims to create trade and infrastructure networks connecting Asia, Europe, Africa, and beyond along the historic Silk Road trade routes. Over 140 countries and 30 international organizations, including leaders, officials, and representatives from various sectors, have confirmed their participation at the event. Over 150 countries and 30 international organizations have engaged with the BRI framework.
Earlier, www.trendsnafrica.com reported that William Ruto intends to ask China for a US$1 billion loan and a debt repayment restructuring plan. Ruto used to criticize his predecessor’s heavy borrowing from Beijing. He will now ask for more time to slowly repay the debt, as well as a billion-dollar loan to complete road projects delayed by lack of funding.
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https://trendsnafrica.com/kenya-to-seek-for-us-1-billion-from-china/
Kenya, one of East Africa’s largest economies, has accumulated more than US$68 billion in debt, equivalent to 67% of its gross domestic product. China is the second largest creditor of Kenya after the World Bank. China is financing the construction of a new terminal in Mombasa port. Chin has also a significant presence in the infrastructure sector. With Chinese help, Kenya has linked the port city of Mombasa to Naivasha, in the Rift Valley, via the capital Nairobi.
