• About Us
  • Archives
  • SWG Registration
Samrack Media
Mahiga Homes
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events
No Result
View All Result
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events
No Result
View All Result
Samrack Media
No Result
View All Result

Chinese loans pushing Kenya’s debt to unsustainable levels, World Bank warns

samrack by samrack
March 31, 2016
in 2016, Africa, Business, Diaspora, Kenya, Kenya Diaspora News, News, U.S Diaspora
A A
0
Chinese loans pushing Kenya’s debt to unsustainable levels, World Bank warns
Share this
FacebookTwitterPinterestEmailWhatsAppLinkedIn
The World Bank has warned that Kenya’s level of borrowing from China could be close to unsustainable.

Chinese loans pushing Kenya’s debt to unsustainable levels, World Bank warns

he caution from the US-based international lender that provides loans to developing countries, is contained in a policy paper on Kenya. “Kenya still has a heavy debt burden and China’s loans can bring debt to unsustainable levels,” the Bretton Woods Institution says of the country’s appetite for loans from the Asian economic giant. The fears of the loans harming Kenya in the longer term are compounded by the fact that China does not tie aid or loans to governance, the paper says. “The loans, however, could harm Kenya in the long-run because of their lack of transparency and failure to tie aid to key governance reforms.” Some of China’s loans are non-concessional, meaning they are granted at market rates, which can raise debt to GDP levels quickly – Apurva Sanghi, the author of the study warns. “China’s aid to Kenya is almost entirely loans,” added Sanghi, who is WB’s lead economist for Kenya, Rwanda, Uganda, and Eritrea, in one of the fiercest criticism of the World’s second largest economy.

READ MORE Why Kenya is losing Ugandan and Tanzanian export markets to China Graft scaring away investors, World Bank warns Cabinet approves second phase of Standard Gauge Railway project While the Western countries have billions worth of outstanding loans given to Kenya, some like the US and UK are running several programmes in health and education sectors that qualify as grants. Aid programmes are often run by organisations from the respective donor countries, often due to lack of transparency and accountability when the funds are channeled through the government. Among the loans granted in the recent period is the project financing for the Standard Gauge Railway, estimated at 90 per cent of the total cost worth Sh327 billion. China has already signed up the funding to the second part of the railway project to Naivasha, and is almost certain to finance the rest of the line to Kisumu and Malaba border point. China is the country’s single largest lender, holding more than half of the total external debt – which is already more than Sh3 trillion, according to official data.
Read more at: http://www.standardmedia.co.ke/business/article/2000196219/chinese-loans-pushing-kenya-s-debt-to-unsustainable-levels-world-bank-warns

 

 

Tags: Chinese loans pushing Kenya’s debt to unsustainable levelsWorld Bank warns
Previous Post

Wind speeds across Kenya, a key indicator of wind energy potential

Next Post

Africa’s Youngest Billionaire says he is interested in Barclays Bank Kenya & Tanzania

Related Posts

DP Ruto picks Rigathi Gachagua as his running mate
Kenya

DP Ruto picks Rigathi Gachagua as his running mate

May 15, 2022
Muteshi Land Grabbing Case Haunts Ruto
Business

Muteshi Land Grabbing Case Haunts Ruto

May 13, 2022
Boyfriend of Missing US-based Kenyan Woman Considered a ‘Person of Interest’ in Her Disappearance
Diaspora

Boyfriend of Missing US-based Kenyan Woman Considered a ‘Person of Interest’ in Her Disappearance

May 13, 2022
Five Reasons Why Real Estate Increases in Value
Business

Five Reasons Why Real Estate Increases in Value

May 13, 2022
Kenya:9,484 children were defiled last year— Health ministry
Health

Kenya:9,484 children were defiled last year— Health ministry

May 13, 2022
Standoff at JKIA After Family Refuses to Pick Body of Kin Who Died in Saudi Arabia
Diaspora

Standoff at JKIA After Family Refuses to Pick Body of Kin Who Died in Saudi Arabia

May 12, 2022
Next Post
Africa’s Youngest Billionaire says he is interested in Barclays Bank Kenya & Tanzania

Africa’s Youngest Billionaire says he is interested in Barclays Bank Kenya & Tanzania

Please login to join discussion
Job Openings Below is a list of current job openings at Northeast Clinical Services, Inc.. Please click on an opening in the list to view details and apply. Job Openings Below is a list of current job openings at Northeast Clinical Services, Inc.. Please click on an opening in the list to view details and apply. Job Openings Below is a list of current job openings at Northeast Clinical Services, Inc.. Please click on an opening in the list to view details and apply.
ADVERTISEMENT
ADVERTISEMENT

Latest News

DP Ruto picks Rigathi Gachagua as his running mate

Muteshi Land Grabbing Case Haunts Ruto

Boyfriend of Missing US-based Kenyan Woman Considered a ‘Person of Interest’ in Her Disappearance

Five Reasons Why Real Estate Increases in Value

Kenya:9,484 children were defiled last year— Health ministry

Standoff at JKIA After Family Refuses to Pick Body of Kin Who Died in Saudi Arabia

Kenyan Nurse Wins Sh29 Million Global Nursing Award in Dubai

Russia Questions US-Funded Biolab in Kenya

GOVERNOR MUTUA’S BIG BLOW AS TRIBUNAL STOPS HIM FROM EXITING AZIMIO LA UMOJA ONE KENYA COALITION!!

Canada Issues Travel Advisory to Its Citizens in Kenya

We are grateful for your monthly or one-off donations To Samrack Media: Cash App No: 781-888-8770 $SAMRACK001

Money

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency

by samrack
November 19, 2021
0

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency This week sees the launch of a new initiative to equip...

A simple guide to Government Bonds investing in Kenya

A simple guide to Government Bonds investing in Kenya

by samrack
September 17, 2021
0

A simple guide to Government Bonds investing in Kenya A treasury bond (T-bond) is a medium term to long term...

Politics

GOVERNOR MUTUA’S BIG BLOW AS TRIBUNAL STOPS HIM FROM EXITING AZIMIO LA UMOJA ONE KENYA COALITION!!

GOVERNOR MUTUA’S BIG BLOW AS TRIBUNAL STOPS HIM FROM EXITING AZIMIO LA UMOJA ONE KENYA COALITION!!

by samrack
May 11, 2022
0

GOVERNOR MUTUA'S BIG BLOW AS TRIBUNAL STOPS HIM FROM EXITING AZIMIO LA UMOJA ONE KENYA COALITION!!   Governor Alfred Mutua’s...

You are free to use Nairobi expressway from next Saturday – Uhuru

You are free to use Nairobi expressway from next Saturday – Uhuru

by samrack
May 8, 2022
0

You are free to use Nairobi expressway from next Saturday - Uhuru Other than the ban on photography, skaters, pedestrians,...

  • About Us
  • Archives
  • SWG Registration

© 2021 SAMRACK - Diaspora News & Updates; design by: Samrack.

No Result
View All Result
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events

© 2021 SAMRACK - Diaspora News & Updates; design by: Samrack.

Page generated in 0.827 seconds. Stats plugin by www.blog.ca