Monday, November 7, 2022

More China-Kenya Railway Contracts Made Public

 The Nation published on 7 November 2022 the text of three contracts in connection with the financing of the standard gauge railway under the title "Read PDFs of SGR Contracts Released by Murkomen."  

The three contracts are the Mombasa-Nairobi SGR Buyer Credit Loan Agreement, Nairobi-Naivasha SGR Buyer Credit Loan Agreement, and Preferential Buyer Credit Loan Agreement.  The accompanying explanation said "details of the collateral Kenya put up--reported by the media, led by the Nation, as being the Port of Mombasa and other assets of the Kenya Port Authority--were missing."

Comment:  The collateral issue has been the most controversial aspect  of the SGR loan arrangements between Kenya and China.  It is not clear from this statement if the Nation stands by its earlier assertion that the Port of Mombasa is collateral in the event of default on the loan.  

The China Africa Research Initiative published a paper in April 2022 titled "How Africa Borrows from China: And Why Mombasa Port is Not Collateral for Kenya's Standard Gauge Railway."