Japan inks $275m loan deal to expand Kenyan port

MOMBASA, Kenya, Jan 17 (Xinhua): Kenya and Japan on Friday signed a US$275 million loan to fund the second phase of Mombasa port expansion.
National Treasury Cabinet Secretary Henry Rotich said the loan will fund the development of the port expansion project that includes the construction of the new container terminal at berth Number 22.
"The ongoing funding is a clear testimony of Japanese government's support of our infrastructure sector, whose completion will provide handling equipment to facilitate trade and economic development in Kenya and entire region," said Rotich when he signed the deal in Mombasa.
Japanese Ambassador to Kenya Tatsushi Terada said the project will enhance container handling capacity at the port, noting that his government is committed to helping Kenya implement the port development projects.