NAIROBI: China’s top diplomat, Wang Yi, hailed the economic partnership between China and Kenya as a “win-win” as the two nations developed a strong friendship based on mutual trust in politics and have become good partners in economic cooperation that benefit both sides.
The Chinese embassy in Kenya stated that the two nations had developed a strong friendship based on mutual trust in politics and have become good partners in economic cooperation that benefits both sides.
Kenya, known for having the most dynamic economy in East Africa and being a stable democracy in a troubled region, has been a recipient of significant investment and financial support from China. As the second-largest lender to Kenya after the World Bank, China has been involved in financing various infrastructure projects in the country.
One of the major projects backed by China is the construction of a new terminal in East Africa’s largest port, Mombasa. Additionally, China provided a $5 billion loan for the construction of a railway line connecting the port city of Mombasa with Naivasha via the capital city, Nairobi. This railway project, known as the Mombasa-Nairobi Railway, has been transformational for Kenya.
Kenya to Strengthen Strategic Partnership with China
Kenyan President William Ruto expressed the country’s commitment to strengthening the strategic partnership with China, with a focus on infrastructure development and addressing climate change.
However, China’s increasing involvement in African nations’ economies has raised concerns about debt sustainability. China has faced accusations of using its creditor status to gain diplomatic or trade concessions. Some African countries, including Kenya, are grappling with significant debt burdens.
China rejects claims of practicing “debt-trap diplomacy,” asserting that such criticism is unfair and coming from Western rivals that have also burdened nations with massive debts.
Kenya’s economy is currently burdened by debts amounting to $70 billion, approximately 67 percent of its GDP.
After his visit to Kenya, Wang Yi will proceed to South Africa to attend the BRICS summit, which includes South Africa, Brazil, China, India, and Russia, further emphasizing China’s engagement with other major economies in the region.
