News in Brief
Kenya says to boost trade ties with Moscow
AFP – Kenya said Monday it has agreed to boost trade ties with Moscow, during a surprise visit by Russian Foreign Minister Sergei Lavrov to the East African country.
Lavrov’s trip came on the heels of an African tour last week by his Ukrainian counterpart Dmytro Kuleba, with the warring sides each seeking to bolster support on the continent for their cause.
ADB grants $350m to cash-strapped Sri Lanka
CNBC – The Asian Development Bank approved a $350 million loan on Monday for bankrupt Sri Lanka, buttressing an IMF bailout as the country battles its worst economic crisis.
The loan will help stabilise the economy of the South Asian nation, the ADB said, after Sri Lanka ran out of foreign currency and defaulted on its $46 billion debt over a year ago.
The Manila-based lender was committed to supporting “Sri Lanka as it addresses its present challenges and strides toward economic stabilisation, sustainable recovery and inclusive growth,” ADB President Masatsugu Asakawa said.