East Africa now owes China $29.4 billion in infrastructure loans

Chinese state institutions, private banks have given African govts $143b in loans in the past 17 years. The region’s economies are now spending almost eight per cent of their revenues to service these loans.

Latest data from the China-Africa Research Initiative (Cari) shows Ethiopia owes Beijing $13.73 billion, followed by Kenya at $9.8 billion. Uganda owes $2.96 billion and Tanzania $2.34 billion.

Full article: The EastAfrican



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