I first met Jianbing on a cold Gansu winter day over twelve years ago, in the Year of the Ox. As fate would have it, the same astrological sign that brought a dear friend into my life snatched him away mercilessly when it returned twelve years later.
China halts Kenya loans amid debt reprieve bid
Summary
China has frozen disbursements of active loans to Kenyan projects in the wake of differences over Nairobi’s bid to extend debt repayment holiday to December.
Chinese-funded projects are facing a cash crunch, with contractors reporting delayed payments from banks like Exim Bank of China.
Executives at State-owned firms say the projects risk delays due to the funding hitch.
Friday July 02 2021
By OTIATO GUGUYU
Summary
China has frozen disbursements of active loans to Kenyan projects in the wake of differences over Nairobi’s bid to extend debt repayment holiday to December.
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Coronavirus: how Africa’s traders are making a long-distance relationship work with China Jevans Nyabiage
If it were not for the coronavirus, Samuel Karanja and the members of the association he represents, would be travelling to and from China to source products to sell in Nairobi.
Several times a year, Karanja, a trader and head of the Importers and Small Traders Association of Kenya, would take a direct flight from the Kenyan capital to southern China to source the wide variety of goods, from machinery to electronics and beauty products, available in the manufacturing hub.
But not any more.
China Issues Statement on Kenya s Growing Debt
17 January 2021 - 1:39 pm
Kenyan President Uhuru Kenyatta (Left) and Chinese President Xi Jinping prior to a bilateral meeting in Beijing, China in 2018.
PSCU
China has revealed that it is ready to suspend Kenya s debt nearly a week after the country received the pardon from the Paris Club of international creditors.
Kenya had made a request for its overwhelming debt obligations to be temporarily suspended to allow the economy to recover from the negative impact of the Covid-19 pandemic.
In a statement, Chinese Embassy spokesperson Huang Xueqing confirmed that both channels were keeping efficient communication through a smooth channel.