{"id":24236,"date":"2021-03-15T20:58:58","date_gmt":"2021-03-15T20:58:58","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/?p=24236"},"modified":"2021-03-15T20:58:58","modified_gmt":"2021-03-15T20:58:58","slug":"govt-breaks-silence-on-china-mombasa-port-deal","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/policy\/govt-breaks-silence-on-china-mombasa-port-deal","title":{"rendered":"Govt Breaks Silence on China, Mombasa Port Deal"},"content":{"rendered":"

AfricaPress-Kenya:<\/strong> The government on Monday, March 15 shared details of the loan advanced by the China EXIM bank that was used in the construction of the\u00a0Standard Gauge Railway\u00a0(SGR).<\/p>\n

Treasury Cabinet Secretary Ukur Yatani who was responding to reports that China could possess Mombasa Port over unpaid debts said that neither China nor\u00a0any other country can seize the port.<\/p>\n

\u201cFor the avoidance of doubt, there is absolutely no risk of China or any other country taking over the Port of Mombasa,\u201d Yatani said.<\/p>\n

\n
\"A<\/div>\n
A file image of Treasury CS Ukur Yatani<\/div>\n
<\/div>\n<\/article>\n

The CS further explained the loan terms that Kenya entered with China in the construction of the multi-billion SGR railway line and the purchase of modern trains.<\/p>\n

According to Yatani, the government made three loan agreements with The Export-Import Bank of China (China EXIM) to provide financial service in the SGR project.<\/p>\n

The said loans were then reviewed by the\u00a0Attorney General for clarity purposes before the Treasury CS signed it on behalf of the government.<\/p>\n

\u201cThe government of Kenya through the National Treasury is servicing the SGR loans in accordance with the provisions of the loans agreement and the Public Finance Management (PFM),\u201d the statement read in part.<\/p>\n

Section 50 (6) of the PFM\u00a0says that any\u00a0public debt incurred by the national government is a charge on the Consolidated Fund.<\/p>\n

Following this provision, Yatani said that part of the\u00a0loan that is due is part of the Consolidated Fund and cannot be paid back using other means without Parliament’s\u00a0approval.<\/p>\n

\u201cThe government of Kenya cannot and has not pledged public assets as security for a debt, because such an action would not only violate provisions in its existing loan agreements with other bi-lateral creditors but more importantly because Kenya treats all its creditors equally,\u201d the CS emphasised.<\/p>\n

The CS added that the Port of Mombasa has no adverse exposure to any lender or category of lenders in which existing government loans are tied to it.<\/p>\n

\n
<\/div>\n<\/div>\n

The government has in the past come under pressure to reveal details of the SGR project agreement with China.<\/p>\n

In 2018, the\u00a0Law Society of Kenya\u00a0Nairobi Branch Chairman Charles Kanjama questioned how such a deal could have a secrecy clause yet it was set to benefit the public.<\/p>\n

\u201cThe agreement is being made in Kenya, the railway is built in Kenya and the assets they are talking about are in Kenya, so why is it being governed by the laws of China?\u201d Kanjama questioned.<\/p>\n","protected":false},"excerpt":{"rendered":"

AfricaPress-Kenya: The government on Monday, March 15 shared details of the loan advanced by the China EXIM bank that was used in the construction of the\u00a0Standard Gauge Railway\u00a0(SGR). Treasury Cabinet Secretary Ukur Yatani who was responding to reports that China could possess Mombasa Port over unpaid debts said that neither China nor\u00a0any other country can […]<\/p>\n","protected":false},"author":84,"featured_media":24228,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,8,12],"tags":[171,2387],"class_list":["post-24236","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-homepage-english","category-policy","tag-china","tag-ukur-yatani"],"yoast_head":"\nGovt Breaks Silence on China, Mombasa Port Deal - kenya<\/title>\n<meta name=\"description\" content=\"The government on Monday, March 15 shared details of the loan advanced by the China EXIM bank that was used in the construction\" \/>\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\/policy\/govt-breaks-silence-on-china-mombasa-port-deal\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt Breaks Silence on China, Mombasa Port Deal\" \/>\n<meta property=\"og:description\" content=\"The government on Monday, March 15 shared details of the loan advanced by the China EXIM bank that was used in the construction\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/policy\/govt-breaks-silence-on-china-mombasa-port-deal\" \/>\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=\"2021-03-15T20:58:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/03\/uhuru-sgr.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"470\" \/>\n\t<meta property=\"og:image:height\" content=\"235\" \/>\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=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/policy\/govt-breaks-silence-on-china-mombasa-port-deal#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/policy\/govt-breaks-silence-on-china-mombasa-port-deal\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Govt Breaks Silence on China, Mombasa Port Deal\",\"datePublished\":\"2021-03-15T20:58:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/policy\/govt-breaks-silence-on-china-mombasa-port-deal\"},\"wordCount\":420,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/policy\/govt-breaks-silence-on-china-mombasa-port-deal#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/03\/uhuru-sgr.jpg\",\"keywords\":[\"CHINA\",\"Ukur Yatani\"],\"articleSection\":[\"all news\",\"head lines\",\"homepage-english\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/policy\/govt-breaks-silence-on-china-mombasa-port-deal#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/policy\/govt-breaks-silence-on-china-mombasa-port-deal\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/policy\/govt-breaks-silence-on-china-mombasa-port-deal\",\"name\":\"Govt Breaks Silence on China, Mombasa Port Deal - 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