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China doubles loans to African Countries...Kenya set to reap big!

Discussion in 'Kenyan News and Politics' started by Ab-Titchaz, Jul 19, 2012.

  1. Ab-Titchaz

    Ab-Titchaz Content Manager Staff Member

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    Jul 19, 2012
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    Checkbook diplomacy? China pledges $20 billion in credit to Africa


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    China's President Hu Jintao (right) shakes hands with South Africa's President Jacob Zuma during the opening ceremony of the Fifth Ministerial Conference of the Forum on China-Africa Cooperation in Beijing on Thursday.

    By NBC News wire services

    BEIJING -- Chinese President Hu Jintao on Thursday pledged African governments $20 billion in credit over the next three years and called for more China-Africa coordination international affairs to defend against the "bullying" of richer powers.

    Hu made the lending pledge during the opening ceremony of the Forum on China-Africa Cooperation in Beijing. The credit line is double the amount offered in 2009 at the last forum held in Egypt.

    Hu promised more Chinese help for African countries in building agricultural technology centers, training medical and other personnel, and digging wells to expand access to clean water. China will encourage investment and assistance in infrastructure that facilitates trade within Africa, he said.

    China has emerged as Africa's main trading partner and a major source of investment for infrastructure, pouring billions of dollars into roads and developing the energy sector across the continent.

    But the loans could add to discomfort in the West, which criticizes China for overlooking human rights abuses in its business dealings with Africa, especially in Beijing's desire to feed its booming resource-hungry economy.

    Checkbook diplomacy? China pledges $20 billion in credit to Africa - World News



    Kenya to reap big as China doubles loans to Africa


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    Chinese Premier Wen Jiabao and Kenyan Prime Minister Raila Odinga during a photo session in Beijing on July 18, 2012.

    By Alphonce Shiundu in Beijing
    Posted Thursday, July 19 2012 at 10:12


    Kenya is set to benefit from a Sh1.7 trillion-loan-facility (USD 20 billion) which China has pledged for African countries over the next three years.

    China's President Hu Jintao announced the colossal amount Thursday, and added that the next three years will be the time for a "solid and greater progress" in the relations between China and the African countries.

    President Hu spoke as he opened a meeting between African leaders and China –the Forum for China Africa Cooperation – that is held every three years in Beijing.

    He said the money will go to infrastructure, manufacturing, technology, culture and small and medium enterprises.

    To tame the proliferation of substandard goods, the Chinese Head of State said his country will be partnering with African countries to "upgrade customs and commodity inspection" joints.

    Though the details of disbursement will be thrashed out at a meeting of ministers later on Thursday and Friday, Kenya's delegation to China led by Prime Minister Raila Odinga is optimistic that the many infrastructure projects being implemented will benefit from the loan.

    Kenya to reap big as China doubles loans to Africa*- Africa*|nation.co.ke
     
  2. Ab-Titchaz

    Ab-Titchaz Content Manager Staff Member

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    Msafara wa Kenya uliongozwa na Waziri Mkuu Raila Odinga....


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    Prime Minister Raila Odinga shakes hands with the Chinese counterpart Rt Hon. Wen Jia Bao at the Great Hall of peoples' Republic of China.



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    Prime Minister Raila Odinga in a blue suit, passes the guards of Honor after leading the Kenyan Government Delegation in a meeting with the Chinese counterpart
     
  3. MaxShimba

    MaxShimba JF-Expert Member

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    Soon there will be China Town in Nairobi Kenya
     
  4. Bantugbro

    Bantugbro JF-Expert Member

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    Jul 21, 2012
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    Such a colossal tons of Chinese cash intensify even further the so called 'do or die duel' for who will be the next president of this already polarized EA nation...:hat:
     
  5. Dhuks

    Dhuks JF-Expert Member

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    Jul 21, 2012
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    Haters gonna hate
     
  6. Saint Ivuga

    Saint Ivuga JF-Expert Member

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    If the profit is high why not??
     
  7. Ab-Titchaz

    Ab-Titchaz Content Manager Staff Member

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    Kenya, China sign new deals

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    Prime Minister Raila Odinga. China has accepted to extend to Kenya a concessional loan of USD 72 million, for the National Optic Fibre Backbone Infrastructure Project and E-Government

    By PMPS
    Posted Sunday, July 22 2012 at 10:45

    Kenya on Saturday signed agreements with Chinese firms dealing with energy and road construction projects.

    The agreements signed in Nanchang, China include a Memorandum of Understanding (MoU) with China Jiangxi Corporation for International Economic and Technical Cooperation to develop a solar and diesel engine power plant in Kenya.

    The agreement also provided for a concessional loan for the construction of Mbita-Sindo-Magunga-Karungu-Masara road and Sindo-Nyandiwa-Sori road in the counties of Homa Bay and Migori.

    Another MoU between the Government of Kenya and Zhongmei Engineering Group Ltd provides for a concessional loan for the construction of Narok-Masai Mara (C12) road to connect with Narok-Mau-Narok (C57) road.

    Kenya Rural Roads Authority Director General, Engineer Maingi Mwangi and Engineer Meshack Kiddenda of the Kenya Highways Authority signed the agreements for Kenya.

    During the ceremonies, Prime Minister Raila Odinga also presented to the Governor of Jiangxi Province of China the power plant agreement with the Government of Kenya, signed in Nairobi on 16 July.

    The Chinese Government has meanwhile accepted to extend to Kenya a concessional loan of USD 72 million, for the National Optic Fibre Backbone Infrastructure Project and E-Government, which will provide optic fibre, linking all urban areas of Kenya.

    Mr Odinga said the project is intended to make Internet available to most Kenyans, as the country moves towards E- Government.



    Kenya, China sign new deals*- Business News*|nation.co.ke
     
  8. Ab-Titchaz

    Ab-Titchaz Content Manager Staff Member

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    Jul 24, 2012
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  9. Utingo

    Utingo JF-Expert Member

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    Nilidhani wetu peke yake ndiye mwenye tabia hii, kumbe inawezekana ni kaugonjwa ka viongozi wengi wa africa.
     
  10. Kabaridi

    Kabaridi JF-Expert Member

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    Huu ugonjwa kweli unaenea.....Kwa kasi.....tena ..............sana!
     
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