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There’s been a serious shift in Kenya’s borrowing patterns over the previous three years marked by a pointy improve in loans from the World Financial institution whereas lending from China has slowed significantly, in response to new Treasury information.
Since 2019, loans from the World Financial institution greater than doubled from $4.5 billion to $9.9 billion this yr. This can be a huge shift from the early years of President Uhuru Kenyatta’s first time period in workplace in 2013 when Chinese language lending to Kenya skyrocketed from close to zero to just about $4 billion by 2017 to fund large-scale infrastructure tasks just like the Customary Gauge Railway.
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