Chinese diplomat denies claims of neo-colonialism in Kenya over ‘debt trap’
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Chinese diplomat explains why investors from China prefer Kenya amid claims of putting the country in a debt trap
Chinese diplomat explains why investors from China prefer Kenya amid claims of putting the country in a debt trap.
Chinese Ambassador to Kenya Zhou Pingjian denied allegations that China had trapped Kenya in a debt trap by asserting that the two nations have a mutually beneficial partnership.
The envoy claimed in an interview that Kenya chose China out of a broad list of potential investors because of the favorable terms they were providing.
He refuted the claim of debt trap making it clear that loans provided to Kenya are a form of external capital for development initiatives.
“As far as I know, the so-called “debt trap” narrative lacks credibility in Kenya. China’s financing in Kenya is based on the development projects in the Kenya Vision 2030 plan,” Pingjian stated.
Emphasizing on the government’s choice of China as an investor he said, “The reason behind this is that Chinese financing brings project implementation and provides Kenya with the most fair and reasonable financing arrangements within its capacity.”
Pingjian claims that since the 1400s, both countriess have enjoyed a solid relationship, which has given Kenyans faith in China’s development aspirations for the nation.
The ambassador brushed off the notion of neo-colonialism, which he asserted was promoted by Western media, and emphasized that China was only interested in participating in Kenya’s development and evolution through initiatives like the Belt and Road Initiative (BRI), which seeks to increase trade and global connectivity in Africa, Asia, and Europe.
The Standard Gauge Railway (SGR) in Kenya was the BRI’s initial marquee undertaking.
It drew a lot of criticism from people who questioned Chinese lending practices and claimed that the Asian country was taking advantage of Kenya.
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Similarly, China’s new BRI projects have been put on the spot because they are mostly financed by Chinese commercial loans, raising concerns that borrowing countries such as Kenya will become vulnerable to debt distress.
Nonetheless, that has not deterred the government, with President Ruto reaffirming his commitment to the BRI earlier this year.
In a meeting with China’s top diplomat Wang Yi, the president said that he aims to work with China to upgrade roads, Jomo Kenyatta International Airport, and Mombasa and Lamu ports.
“Investment in this sector will spur economic growth and create jobs for the people under our Bottom-Up Economic Transformation Agenda,” he said.
Diplomat Yi, on his part, stated that his country would prioritize the government’s interests.
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