waltham
JF-Expert Member
- Jan 23, 2014
- 2,522
- 1,045
Congratulations Kenya for building a new railway network.
Word of caution:
There is no such thing as Free Lunch. Kenya has borrowed 90% of the $3.8 billion from China Exim Bank to finance this project.
Haven't you guys learned from Angola?
China has lent Angola around $20 billion since a 27-year civil war ended in 2002.
They are borrowing another $25 billion from China and Brazil to fund the budget gap in 2015 due to low crude oil prices.
Repayments are often paid with oil or funds go directly to Chinese construction firms that have built roads, hospitals, houses and railways across the southern African country.
This means, however, dollars don't end up entering the real economy, increasing costs for ordinary Angolans.
There are around 50 Chinese state companies and 400 private companies operating in Angola alone.
I honestly hope that Kenyans will be able to repay the Chinese without sacrificing their future.
Wishing you all the best.
source:Bloomberg.com, Reuters.com
ebu tufanya hesabu hapa. consortium kutoka china 10% wanatoa deni kwa tz na yule international conman rothschild kupitia mabenki analeta 90%. total liability kwa mlala hoi mtz deni 100%. talk of a pot calling calling the kettle black!!!
ndustries | Sun May 31, 2015 6:48am EDTRelated: ENERGY, INDUSTRIALS
Tanzania awards $9 bln rail projects to Chinese companies
DAR ES SALAAM
May 31 Tanzania has awarded contracts to build new railway lines worth about $9 billion to Chinese firms, its transport minister said, expanding Beijing's presence in East Africa's second-biggest economy.
Transport Minister Samuel Sitta told parliament on Saturday a Chinese consortium had been awarded a contract to build a 2,561 km (1,536 miles) standard gauge railway connecting Dar es Salaam port to land-locked neighbours at a cost of $7.6 billion.
"A consortium of Chinese railway companies led by China Railway Materials (CRM) has been picked to help us build the railway line," he said.
The consortium will provide 10 percent of the funding for the project while financial adviser Rothschild is finalising procedures for financing of the project through banks, Sitta said.







