China’s top diplomat Wang Yi hailed the economic partnership between China and Kenya as a “win-win” during his visit to Kenya on Saturday, according to a statement from Chinese authorities.
The Chinese embassy in Kenya stated that Kenya and China have developed a strong friendship built on mutual trust in politics and a successful partnership focused on win-win economic cooperation.
Kenya, known for its dynamic economy, is widely recognized by the international community as a stable democracy amidst a region facing various challenges.
After the World Bank, China stands as the second-largest donor to Kenya.
China is financing the construction of a new terminal in East Africa’s largest port, Mombasa, on the Kenyan coast.
China also provided a loan of $5 billion (4.7 billion euros) for Kenya’s most expansive infrastructure project since its independence in 1963, a train line connecting the port city Mombasa to Naivasha in the Rift Valley via the capital, Nairobi has been in operation since 2017.
In a tweet, Kenyan President William Ruto emphasized his commitment to enhancing the strategic partnership between Kenya and China, focusing on infrastructure development and climate change initiatives.
However, China’s creditor status has often been criticized for Beijing leveraging it to gain diplomatic or trade concessions, leading to concerns about the ability of many African countries to manage the debts they have incurred.
China, the world’s second-largest economy, dismisses accusations of “debt-trap diplomacy” as an unfair criticism from Western rivals, highlighting that these same countries have burdened nations with substantial debts as well.
Kenya’s economy is grappling with a significant debt burden of $70 billion, equivalent to approximately 67 percent of its GDP.