On January 6, 2022 local time, State Councilor and Foreign Minister Wang Yi and Kenyan Cabinet Secretary for Foreign Affairs Raychelle Awuor Omamo jointly met the press in Mombasa. Wang Yi refuted the allegation that China's cooperation with Africa has created a "debt trap".
Wang Yi stressed, China-Africa cooperation is South-South cooperation and mutual support and assistance between developing countries. In conducting cooperation with Africa, China has never attached any political strings or imposed anything on others. All China-Kenya cooperation projects have been scientifically planned and appraised in detail, bringing benefits to the Kenyan people and boosting Kenya's national development and revitalization. Eighty percent of Kenya's foreign debt is owed by multilateral financial institutions, and its debt to China is mainly concessional loans.
Wang Yi emphasized, the so-called "debt trap" in Africa is not a fact, but a malicious hype-up by some people. It is an "utterance trap" created by those forces that do not want to see Africa speed up development. If there is any "trap" in Africa, it is the "poverty trap" and the "underdevelopment trap", which Africa should get rid of as soon as possible. China is ready to work with all friendly countries to help African countries speed up post-pandemic recovery, eliminate poverty and underdevelopment, catch up with the times as soon as possible, achieve common development and create a better future.Distributed by APO Group on behalf of Ministry of Foreign Affairs of the People's Republic of China.
© Press Release 2021
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.