China EXIM Bank provides $140 million for construction of port in Kenya
Pledged amount
$ 161327341.98293632
Adjusted pledged amount
$ 161327341.98293632
Constant 2021 USD
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Kenya
Sector
Transport and storage (Code: 210)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Description
CGTN Africa, a media network owned by the Chinese government, reported as late as 2019 that the Export-Import Bank of China loaned $140 million USD to Kenya in 2017 for the construction of a modern port facility in Kisumu. No official sources state a loan agreement with the Export-Import Bank of China was finalized. Construction of the port is expected to last 18 months. As of August 2019, the port was still under construction. When complete, the port will be leased to sub-operators under an agreement with the Kenya Ports Authority. Loan details are unknown.
Number of official sources
2
Number of total sources
11
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Kenya [Government Agency]
Implementing agencies [Type]
Kenya Ports Authority (KPA) [Government Agency]