October 16, 2013
China's lending to Kenya hits $750m
China has overtaken France as the second largest lender to Kenya after Japan, reflecting Beijing's increasing importance as a source of development funds for the country. Data from the Central Bank of Kenya shows that Kenya's debt to Beijing rose by 50 per cent to about $750 million in the year ended June 2013, compared with $500 million in fiscal year 2011-2012.