China grants 7 million dollars to Kenya

China will grant $7 mil­lion dol­lars to Kenya for devel­op­ment projects in the African coun­try. It is one of a big­ger pack­age of grants and loans that China is mak­ing to the Africa as they step up aid efforts.

From Reuters Africa we read this sum­mary of the announcement.

The agree­ment was unveiled dur­ing a visit to the Kenyan cap­i­tal Nairobi by Chi­nese For­eign Min­is­ter Yang Jiechi, who is on a five-nation tour of the world’s poor­est con­ti­nent.

In Novem­ber, China’s gov­ern­ment said it would offer Africa $10 bil­lion in con­ces­sional loans over the next three years as the coun­try aims to boost a rela­tion­ship which is eco­nom­i­cally boom­ing, to the dis­com­fort of some in the West.

Bei­jing says it also plans to help Africa develop clean energy gen­er­a­tion and cope with cli­mate change, encour­age Chi­nese finan­cial insti­tu­tions to lend to smaller African com­pa­nies and expand mar­ket access for African products.



This article is from Poverty News Blog: http://feedproxy.google.com/~r/blogspot/EOch/~3/y8gyRnXTmeE/china-grants-7-million-dollars-to-kenya.html




Leave a Reply