President Ruto’s Request to China’s President Xi Jinping
President William Ruto has urged China to assist African nations by simplifying access to low-interest loans.
In a speech on September 5 in Beijing, Ruto emphasized the need for financial aid to bolster Africa’s economic growth and support countries facing economic challenges.
He appealed to China to encourage other organizations to enhance their contributions to development institutions such as the World Bank’s International Development Association.
“This will help more African nations secure concessional funding, aiding economies severely impacted,” he clarified.
Additionally, Ruto called on China to support Africa’s efforts to reform the global financial system, which he criticized as “unfair to many countries in the Global South, including Africa.”
He proposed improving debt management, suggesting extended repayment and grace periods for existing and future debts.
“In Kenya, the Belt and Road Initiative has markedly boosted productivity in both rural and urban areas, improving mobility, market access, and creating new opportunities for women and youth,” he noted.
Ruto announced that African leaders will gather in Congo Brazzaville next month to explore better strategies for assessing Africa’s assets and managing its debt.
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Chinese President Xi Jinping unveiled a 10-point plan for Africa over the next three years, focusing on modernization in sectors such as industry, agriculture, and infrastructure.
“In the coming three years, China aims to collaborate with Africa on 10 partnership initiatives to advance modernization, deepen China-Africa cooperation, and drive Global South modernization,” he stated.
President Jinping highlighted that this 10-action plan will offer Africa $50 billion (KSh6.5 trillion) in financial support.
The plan includes a $29.4 billion credit line, $11.2 billion in various forms of assistance, and at least $9.8 billion in investments from Chinese companies in Africa.
Simultaneously, President Ruto co-chaired the meeting with Chinese Vice-Premier Ding Xuexiang.
Key speakers included Presidents Adama Barrow of Gambia, Lazarus Chakwera of Malawi, Brice Oligui Nguema of Gabon, Mohamed Younes Menti of Libya, and Al-Burhan Abdelrhman of Sudan.
President William Ruto is in China for the 9th Forum on China-Africa Cooperation (FOCAC) Summit, accompanied by First Lady Rachel Ruto, ODM leader Raila Odinga, and other senior officials.
President Ruto’s Request to China’s President Xi Jinping
