Kenya’s Finance Minister Debunks Rumors of Kenya Losing Port to China to Pay Debt
Kenya’s Finance Minister Ukur Yatani has denied reports that the country risks losing its main port to China should it fail to pay huge loans advanced for the construction of a new railway line.
The new 472km (293 mile) railway cost close to three times the international standard and four times the original estimate.
Chinese lenders could take control of the port of Mombasa if Kenya defaults on the $3.2bn (£2.3bn) loan.
But in a statement, the finance minister said “there is absolutely no risk of China or any other country taking over the port”.
He said the loans for the railway cannot “be paid through any other fund or any other entity without the approval of parliament”.
“The government of Kenya cannot and has not pledged public assets as security for a debt because of such an action… only violates provisions of its existing loans agreements,” Mr Yatani said.
The UN has named Mauritanian diplomat El-Ghassim Wane as its special representative and head of the peace-keeping mission in Mali.
Mr Wane has 25 years of experience in conflict prevention, mediation and peacekeeping, the world body announced on Monday.
He is taking over from former Chadian Foreign Minister Mahamat Saleh Annadif.
The Mauritanian served as assistant secretary-general for peacekeeping operations at the UN between 2016 and 2017 and later worked at the African Union (AU) up to 2019.
In recent months, he led a team conducting an independent strategic review of the UN-led peacekeeping operation in South Sudan.