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Kenya’s bilateral debt repayments towards China-funded infrastructure projects have increased almost 50 percent to 107.42 billion shillings ($778.9 million) in the current financial year ending June 30.
The higher amount by increased clearance of the principal amount after the grace period lapsed, Business Daily newspaper reported.
The amount was mainly paid to the Exim Bank of China and China Development Bank.
The debt costs for China are among the largest single expenses this fiscal year for the Kenyan government.
Kenya owed China $6.31 billion last March after peaking at $7.06 billion in June 2021.
(Writing by P Deol; Editing by Anoop Menon)
