East Africa now owes China $29.4 billion in infrastructure loans

What you need to know:

  • 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.

East African economies have in the past 10 years borrowed $29.42 billion to grow their transport, communication, manufacturing and energy sectors.

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