WRIT­TEN OFF

The East African - - BUSINESS -

In the past 15 years, Bei­jing has writ­ten off more than $2 bil­lion ad­vanced to African coun­tries, with East Africa ben­e­fit­ing to the tune of $500 mil­lion. Rwanda had $173 mil­lion of debt writ­ten off, fol­lowed by Tan­za­nia — China’s big­gest trad­ing part­ner in the re­gion — at $75 mil­lion. Uganda, which cur­rently holds more than $1.57 bil­lion of Chi­nese debt, has seen more than $67 mil­lion writ­ten off, while Kenya, which now owes Bei­jing $9.84 bil­lion has had $71 mil­lion writ­ten off, ac­cord­ing to data from the Us-based Cen­tre for Global Development.

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