China Reschedules Kenya’s KSh 3.6Bn for Mombasa-Naivasha Railway Project

China and Kenya have agreed to reschedule the terms of $3.5B in loans used to build the Mombasa-Naivasha railway. The deal extends the grace period and the maturity by five years.The bigger shift is the currency. The loans were repayable in US dollars, and are now repayable in Chinese yuan.