Kenya: Ruto to ask China for $1 Billion Loan

Kenyan President William Ruto plans to request a $1 billion loan from China to complete halted road projects and negotiate a longer repayment period for existing loans during his upcoming trip to Beijing.

This shift in stance comes after Ruto’s coalition previously criticized former President Uhuru Kenyatta’s borrowing from China. Many of these projects have stalled due to unpaid bills, resulting in delays and contractors abandoning them.

Ruto aims to use the loan to pay these contractors and ensure the projects are completed. Kenya’s high debt levels, particularly from Chinese loans, have raised concerns and strained the country’s finances. To address this, the government has ordered budget cuts and implemented restrictions on foreign travel for officials.