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The long-held dream of transporting items between Uganda and the Port of Mombasa turned a actuality on Monday with the inauguration of a brand new rail line that connects Kenya’s Normal Gauge Railway (SGR) with a newly refurbished meter gauge line in Uganda. This can be a pared-down model of the unique plan to hyperlink the 2 international locations by rail, which by no means materialized after China’s refusal to finance the venture. Now, items shall be transshipped on the Chinese language-built inland container depot in Naivasha earlier than heading to/from the Ugandan border metropolis of Malaba. (PULSE KENYA)
The World Financial institution renewed requires China and personal collectors to do extra to “take part totally in debt aid efforts” in response to its newest World Financial Prospects report launched on Tuesday. Based on the financial institution’s president, David Malpass, the world’s poorest international locations face $35 billion in debt service funds this yr with greater than 40% because of China. “Deep debt aid is far wanted for the poorer international locations. If we wait too lengthy, it is going to be too late,” Malpass mentioned. (REUTERS)
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