Mombasa Port China Loan

Kenya runs the risk of losing control of the port of mombasa if it should default on loans from state financial institution china exim bank according to a new report from kenya s auditor general. In the likely scenario that china takes over the port kenya would be joining sri lanka another debt distressed nation in losing a strategic national asset. They would have to assume.

joint pour porte western joint porte de garage sectionnelle kalaydo wohnungen joint porte voiture tunisie joint isolation phonique porte intérieure joint universel porte congelateur joint porte congelateur zanussi joint porte voiture entretien

How China Could Be Handed Mombasa Port For Free The Standard

China To Take Over Kenya S Main Port Over Unpaid Huge Chinese Loan

China Could Take Over Mombasa Port If Kenya Can T Repay Loan

China Is Likely To Take Over Kenya S Main Port Daily Times

Is Kenya On The Path Of Losing Mombasa Port To China Over Debt

Kenya China To Take Over Mombasa Port Over Unpaid Loans Deythere

China has denied having attached mombasa port as collateral to its funding of the standard gauge railway line.

Mombasa port china loan. This is possible because the sgr operated by the chinese is a hugely loss making venture meaning it cannot generate enough money to repay loans. Last year kenya s auditor general warned that the country s loan agreement with china exim bank regarding the sgr railway was tilted in favor of beijing. Beijing however denies claims kenya could lose the port over as. As a consequence china is rumored to be considering a takeover of the mombasa port.

Kenya is reportedly staring at the risk of losing mombasa port to china if it fails to repay loans taken for a railway project. This is amid revelations that the country could lose the port of mombasa to the chinese government if the national railway corporation defaults in the payment of sh227 billion owed to exim bank. China to take over kenya s main port over unpaid huge chinese loan in port news 22 11 2019 kenyan government risks losing the lucrative mombasa port to china should the country fail to repay. Alarm flared in kenya before christmas at the prospect of a chinese takeover of the country s main port of mombasa after a letter purportedly from kenya s auditor general warned that china could seize the assets of the kenya ports authority kpa if terms of china s loan for a new railway were not met.

Chinese foreign ministry spokesperson hua chunying said in a statement that fears. The internet is literally on fire after a letter by auditor general edward ouko stated that exim bank of china may take over the mombasa port if kenya fails to service the loan it took to build. Taking of the port of mombasa would be a strategic disaster for beijing and its desire to repel accusations that it s a predatory lender. By owning the port the chinese would also own all of the headaches that come in running it.

It would undermine faith in the belt and road initiative around the world.