NAIROBI, Kenya, Jan 28 — Foreign Affairs Principal Secretary, Korir Sing’oei, held high-level discussions with senior Chinese finance officials to explore innovative development financing options for Kenya’s flagship infrastructure projects.
The meeting held at the CAD Fund offices in Beijing on Tuesday, brought together senior officials from the China Development Bank, the Export-Import Bank of China (CEXIM), and the Bank of China (BOC) including Chang Hui, Vice President of the China Africa Development Fund (CAD Fund).
Sing’oei, on a working visit to China, was accompanied by Kenya’s Ambassador to China, Willy Bett, Deputy Head of Mission Lynette Mwende, and Dr. Haron Sirima, President William Ruto’s advisor on debt management.
Speaking after the meeting, PS Sing’óei said the discussions focused on financing solutions to support Kenya’s ambitious infrastructure agenda aimed at boosting economic growth and connectivity.
“Deeply honoured to hold a high-level meeting with the Vice President of China Africa Development Fund (CAD Fund), Chang Hui, at their Beijing offices this morning,” he said.
“Senior officials from China Development Bank, the Export-Import Bank of China (CEXIM), and the Bank of China (BOC) also attended. We discussed new development financing options to power H.E President Ruto’s flagship infrastructure projects.”
Responsive development
Sing’oei also held bilateral talks at the China International Development Cooperation Agency (CIDCA) with Vice Chairman Hu Zhangliang, praising CIDCA for its role in shaping responsive development policies aligned with FOCAC priorities, as well as facilitating regulatory approval for concessional funding for Kenya’s projects.
Kenya has historically relied on external financing for large-scale infrastructure projects, including the Standard Gauge Railway, Nairobi Expressway, bypasses, and energy installations.
China remains one of Kenya’s largest creditors, accounting for about 20 percent of the country’s external debt.
This model of borrowing has sparked public debate over debt sustainability, particularly as Kenya’s public debt exceeds Sh11 trillion, much of it accumulated over the last 15 years.
President Ruto has repeatedly emphasized a shift towards domestic revenue mobilization and fiscal discipline.
“Our country will not be developed by others. [It] country will not be developed by aid,” Ruto said while delivering the State of the Nation Address in November 2025.
“Our country will not be developed by debt. [The] country will be developed by us, using our own revenues and taxes.”
