China elaborates what will Happen if Kenya defaults to the loans

Kenyans have heard a number of questions on the nature of the agreement Kenya made China while acquiring the numerous loans.

The question of what happens if Kenya defaults to the loans has also been clouding the public limelight with many insinuating that our precious assets will be seized and mortgaged by China.

New Chinese ambassador Wu Peng who arrived in Nairobi six weeks ago has cleared the air about the status of the loans.

Wu Peng has stated that  their is no secret deal signed between Kenya and China in regard of the loans;

Let me declare this: There is no secret between the Chinese and Kenyan governments. Any loan agreements between China and Kenya are in line with international practice. None of Kenyan national assets has been mortgaged for the SGR loan and neither would any national asset be seized or controlled by China, even in a situation of default,” stated Peng in a interview with Daily Nation.

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China has also come clean on seizing of Kenya properties in case the country fails to repay the loan on time.

“These assumptions are groundless and I don’t think Kenya will default. Sometimes I think we should have common sense. Kenya is a sovereign state. Any asset in your country is protected by international law and should be respected by other countries. These are unnecessary worries,” China responded through Peng.

This gives Kenya confidence on President Uhuru Kenyatta administration and the Big Four Agenda.

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