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Kenya should renegotiate Chinese rail loan, parliamentary panel says

Kenya should renegotiate Chinese rail loan, parliamentary panel says

DUNCAN MIRIRI KENYA should renegotiate the terms of a loan borrowed from China to build a modern railway line, parliament's transport committee said in a report, one of many African countries grappling with a pandemic-induced downturn and heavy debt. The East African nation raised its public debt ceiling last year. It took a loan from China to build the $3.2 billion standard gauge railway (SGR), which started operations in 2017. "The government should initiate the process of renegotiating the loan terms of the SGR with the lender due to the prevailing economic distress occasioned by the effects of COVID-19," the…
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