The long-held dream of transporting goods between Uganda and the Port of Mombasa became a reality on Monday with the inauguration of a new rail line that connects Kenya’s Standard Gauge Railway (SGR) with a newly refurbished meter gauge line in Uganda. This is a pared-down version of the original plan to link the two countries by rail, which never materialized after China’s refusal to finance the project. Now, goods will be transshipped at the Chinese-built inland container depot in Naivasha before heading to/from the Ugandan border city of Malaba. (PULSE KENYA)
The World Bank renewed calls for China and private creditors to do more to “participate fully in debt relief efforts” according to its latest Global Economic Prospects report released on Tuesday. According to the bank’s president, David Malpass, the world’s poorest countries face $35 billion in debt service payments this year with more than 40% due to China. “Deep debt relief is much needed for the poorer countries. If we wait too long, it will be too late,” Malpass said. (REUTERS)
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