Kenya is among countries angling to reap big from the second Belt and Road Initiative (BRI) forum in Beijing, China later this month.

In a ceremony to be held on the sidelines of the forum, Kenya  will sign a Sh368 billion loan to facilitate the construction of the second phase of the Standard Gauge Railway (SGR) linking Naivasha to Kisumu .

The event will bring together more than 40 foreign governments and representatives from more than 100 countries with President Uhuru Kenyatta expected to be among key dignitaries. 

“Through six years of hard work, the BRI has laid its groundwork and entered the stage of all-round growth, it is bearing fruit and will create more opportunities for co-operation,” said Yang Jiechi, a member of the Political Bureau of the Central Committee of the Communist Party of China.

Yang is also the director of the Office of the Central Commission for Foreign Affairs overseeing preparations for the forum first held six years ago. He said the opportunities come with the BRI’s growing international influence, moral appeal and co-operation potential.

“Against the backdrop of mounting protectionism and unilateralism in the world, the BRI principle of consultation and co-operation for shared benefits has gained wide recognition,” Yang added.

The ambitious BRI programme aims at connecting Asia with Africa and Europe through land and maritime networks along six corridors to accelerate regional integration and boost trade.

Several loans

Already, Kenya is a beneficiary of several loans from China key among them being Sh327 billion loan advanced to construct SGR from Mombasa to Nairobi.

Loans for construction of the SGR have been an emotive issue with a general consensus among analysts that the first phase of the project was overvalued.

Source: Media Max

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