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China s debt-trap diplomacy: Kenya offered debt repayment holiday for 6 months worth $245 million Sun Online Desk 17th February, 2021 08:49:18 BEIJING: In yet another example of China s debt-trap diplomacy, Kenya has been roped in a deal with a six-month debt repayment holiday worth $245 million. The deal was struck a week after the Paris club of creditors, an informal group of creditors, offered the same debt-service suspension worth $300 million until the end of June 2021. The African nation has been struggling to meet the repayments, as some of the projects, including the Standard Gauge Railway - built as part of Beijing s Belt and Road Initiative, are not generating enough income to pay for themselves, South China Morning Post reported.

Nairobi areaFrance generalCity ofUnited kingdomRift valleyUhuru kenyattaUkur yataniExim bankStandard gauge railwayKenya national treasuryNairobi standard gauge railwayParis clubWorld bank debtor reporting systemChina exim bankSouth china morning postNational treasury