Kenya Denies Defaulting On Chinese Railway Loan
Kenya’s government rebukes media claims that it has fallen behind on payments due to China on a multi-billion dollar railway line.
Kenya’s government has refuted media claims that it has fallen behind on payments due to China on a multi-billion dollar railway line that runs from the nation’s capital, Nairobi, to the seaside city of Mombasa.
According to Business Daily, China fined Kenya $10 million (£8.9 million) after Kenya failed to return a $4.5 billion loan for the construction of the country’s largest infrastructure project since independence, a 472km (293 miles) line.
Haron Sirima, Kenya’s director general of public debt management, called the allegation “crazy” in an interview with the BBC.
He said, “The government has not accrued any arrears.”