Japan to Borrow Kenya $860 million to boost Infrastructure
Japan has announced nearly 860 million U.S. dollar in concessional loans and grants for construction in Kenya. This is to boost infrastructure in the port city of Mombasa and other projects to support an economic zone there. Japan’s ambassador to Kenya, Katsutoshi Komori told a news conference that a loan of about 450 million US dollar will go towards building a 1.3 km bridge linking Mombasa’s mainland to an island in the city. Another 350 million U.S. dollar loan and a 57 million U.S. dollars grant will go towards developing a port, road, electricity and water supply and drainage in the special economic zone known as Dongo Kundu in Mombasa. Japan is looking to boost its investment in Africa, much as its rival China has been doing for years. At a conference in Tokyo last month attended by a few dozen African leaders, Prime Minister Shinzo Abe said Japan would expand its private-sector investment in Africa, which came to $20 billion U.S. doll...