New data from the National Treasury in Nairobi revealed a dramatic surge in borrowing from Japan, up 162% to more than $1.3 billion during the period of June 2018 to June 2019. The increase in Japanese loans comes as China is slowing its lending to Kenya. “China’s bilateral loans to Kenya, which stood at $6.4 billion by June had only grown 16 percent from $5.5 billion in the same period last year,” reported Kenya’s Business Daily newspaper.
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