Kenya’s bilateral debt repayments towards China-funded infrastructure projects have increased almost 50 percent to 107.42 billion shillings ($778.9 million) in the current financial year ending June 30.
The higher amount by increased clearance of the principal amount after the grace period lapsed, Business Daily newspaper reported.
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The debt costs for China are among the largest single expenses this fiscal year for the Kenyan government.
Kenya owed China $6.31 billion last March after peaking at $7.06 billion in June 2021.
(Writing by P Deol; Editing by Anoop Menon)
(anoop.menon@lseg.com)
