Japan rivals China in East Africa investment

japan pic

Japan has upped the competition with China in aiding East Africa’s development after signing a US$275 million loan to fund Kenya’s second phase of the Mombasa port expansion, reports our Chinese-language sister paper Want Daily.

The US$275 million loan is part of a US$546 million contract aiming to move along the 2020 projected completion date for the second phase of the Mombasa port. Once accomplished, the harbor’s discharge capacity will increase two to threefold. The port is an important driving force for East Africa’s economic development.

Want China Times

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