{"id":147793,"date":"2025-08-21T21:38:58","date_gmt":"2025-08-21T21:38:58","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/kenya-seeks-chinas-approval-to-convert-dollar-loan-to-yuan"},"modified":"2025-08-21T22:11:29","modified_gmt":"2025-08-21T22:11:29","slug":"kenya-seeks-chinas-approval-to-convert-dollar-loan-to-yuan","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/kenya-seeks-chinas-approval-to-convert-dollar-loan-to-yuan","title":{"rendered":"Kenya seeks China’s approval to convert dollar loan to yuan"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>Nairobi specifically wants to reprofile the $5bn loan that Beijing underwrote for the construction of the east African country’s modern railway, the finance minister told Wednesday.<\/p>\n

If approved, the move would reduce pressure on Kenya’s forex reserves. The country spends nearly $1bn a year in debt service to China. Since 2022, Kenya’s debt servicing costs have skyrocketed owing to higher interest rates and a strong dollar.<\/p>\n

It is not known if Kenya has sought to convert any other dollar denominated loans. There was no word from Beijing on the news. Of Kenya\u2019s $40.5 billion in external debt at the end of March, it owed $14.4 billion to the World Bank, $7.52 billion to eurobond investors and almost $5.04 billion to China, according to Treasury data.<\/p>\n

The International Monetary Fund lists Nairobi as being at a high risk of debt distress. The Standard Gauge Railway (SGR), part of a regional connectivity project runs from the port of Mombasa to Naivasha in central Kenya.<\/p>\n

For More News And Analysis About Kenya<\/span> Follow Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. Nairobi specifically wants to reprofile the $5bn loan that Beijing underwrote for the construction of the east African country’s modern railway, the finance minister told Wednesday. If approved, the move would reduce pressure on Kenya’s forex reserves. The country spends nearly $1bn a year in debt service to China. Since 2022, Kenya’s […]<\/p>\n","protected":false},"author":84,"featured_media":147792,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7],"tags":[5444,8767,544,382],"class_list":["post-147793","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","tag-beijing","tag-debt-crisis","tag-kenya","tag-nairobi"],"yoast_head":"\nKenya seeks China's approval to convert dollar loan to yuan - kenya<\/title>\n<meta name=\"description\" content=\"Nairobi specifically wants to reprofile the $5bn loan that Beijing underwrote for the construction of the east African c ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/kenya-seeks-chinas-approval-to-convert-dollar-loan-to-yuan\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kenya seeks China's approval to convert dollar loan to yuan\" \/>\n<meta property=\"og:description\" content=\"Nairobi specifically wants to reprofile the $5bn loan that Beijing underwrote for the construction of the east African c ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/kenya-seeks-chinas-approval-to-convert-dollar-loan-to-yuan\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2025-08-21T21:38:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-08-21T22:11:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2025\/08\/sm_1755797519.521144.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"538\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/kenya-seeks-chinas-approval-to-convert-dollar-loan-to-yuan#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/kenya-seeks-chinas-approval-to-convert-dollar-loan-to-yuan\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Kenya seeks China’s approval to convert dollar loan to yuan\",\"datePublished\":\"2025-08-21T21:38:58+00:00\",\"dateModified\":\"2025-08-21T22:11:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/kenya-seeks-chinas-approval-to-convert-dollar-loan-to-yuan\"},\"wordCount\":184,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/kenya-seeks-chinas-approval-to-convert-dollar-loan-to-yuan#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2025\/08\/sm_1755797519.521144.jpg\",\"keywords\":[\"Beijing\",\"Debt crisis\",\"Kenya\",\"Nairobi\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/kenya-seeks-chinas-approval-to-convert-dollar-loan-to-yuan#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/kenya-seeks-chinas-approval-to-convert-dollar-loan-to-yuan\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/kenya-seeks-chinas-approval-to-convert-dollar-loan-to-yuan\",\"name\":\"Kenya seeks China's approval to convert dollar loan to yuan - 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