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Kenya Saves $215M by Converting $5B Loan to Yuan

10/8/2025

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Summary

Story summary

Kenya converted a $5 billion railway loan from United States dollar (USD) to yuan, saving about $215 million annually, Finance Minister John Mbadi says.
The move reduces exposure to dollar-denominated debt, which accounts for 68% of Kenya’s external obligations.
The outstanding loan is about $3.5 billion as of June 2024. Kenya seeks a $1 billion debt-for-food swap.

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Story summary

Kenya converted a $5 billion railway loan from United States dollar (USD) to yuan, saving about $215 million annually, Finance Minister John Mbadi says.
The move reduces exposure to dollar-denominated debt, which accounts for 68% of Kenya’s external obligations.
The outstanding loan is about $3.5 billion as of June 2024. Kenya seeks a $1 billion debt-for-food swap.