The elevation of Kenya to the middle-income status saw China lock the country out of a new list of African nations that will receive a Beijing debt relief this year, under a plan by the world’s second-largest economy to help 17 poor states in the continent saddled with its huge loans forego their repayments.
The deal announced last week will see Beijing forgive 23 matured interest-free loans for 17 unnamed African countries, which are classified as least developed countries.
Beijing made the announcement during the Forum on China-Africa Cooperation that seeks to boost ties between China and its African allies.
Chinese Foreign minister Wang Yi said at the forum the debt relief plan “demonstrates China’s commitment to fostering stronger economic ties with the African continent”.
Chinese authorities in Nairobi said Wednesday Kenya was left out of the deal as it is classified as lower-middle income, which the new Beijing scheme does not apply to.
State Councillor and Foreign minister Wang Yi mentioned during his remarks at the coordinators’ meeting on the Implementation of the Follow-up Actions of the Eighth Ministerial Conference of the Forum on China-Africa Cooperation that China will waive the 23 interest-free loans for 17 African countries that had matured by the end of 2021,”
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