Kenya secures Sh21.9 billion financial assistance from China.

Kenya secured Sh21.9 billion financial assistance from China for infrastructure development and drought mitigation. 

The money includes a Sh19.2 billion grant to deepen ties between the two countries. An additional Sh2.2 billion (150million Yuan) is for measures to tackle drought and a further Sh500 million (5million Yuan) for refugees.

The deals were agreed during bilateral talks between Pand Prime Minister Li Kequang at the Great Hall of the People. 

The talks were on the sidelines of the just-ended Infrastructure International Conference in Beijing, China. Kenya is also angling for part of the Sh870billion China offered developing countries for the multi-billion Silk Road Fund infrastructure development. 

In turn, the Chinese are enticing Kenya to open her skies. President Xi and Li are seeking partnership in the aviation industry, where Kenya would buy aircraft from China and in return, allow Kenya's registered planes to access its routes.

President Xi is keen to have a comprehensive and strategic relationship with Kenya, as he affirmed his commitment to the conclusion of the Standard Gauge Railway (SGR). On the commercial front, Uhuru also sought a Sh362billion ($3.59billion) loan for the third phase of the SGR from Naivasha to Kisumu and $161million for the construction of the Western by-pass by the China Roads and Bridges Corporation signed last year. 

President Kenyatta urged the two leaders to accelerate the issuance of the loans sought from China's EXIM Bank to facilitate the completion of the projects. "The bank should fast-track the process of the loans," Uhuru said. Xi and Li said China supports the projects, though the request would be processed in normal terms once National Treasury puts in a formal request.

President Uhuru Kenyatta and Chinese President Xi Jinping photo by:24tanzania.com