Kenya in talks with China to convert dollar rail loan into yuan
Kenya is in talks with China to convert a dollar-denominated railway loan into Chinese yuan, an aide to the finance minister told Reuters on Wednesday.
Kenya in talks with China to convert dollar rail loan into yuan
Kenya is reportedly holding talks with China to repay railway development loan in yuan. / Public domain
13 hours ago

Kenya is in talks with China to convert a dollar-denominated railway loan into Chinese yuan, an aide to the finance minister told Reuters on Wednesday, confirming an earlier report by Bloomberg news.

China is Kenya's biggest bilateral lender, and the country took on the debt to construct a $5 billion high-speed railway, one of the country's largest-ever infrastructure projects.

The standard gauge railway line was launched in May 2017 during the administration of Kenya's fourth President Uhuru Kenyatta.

SOURCE:Reuters
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