Kenya’s China loan revamp sparks wider interest in yuan switch, AidData says

Will Kenya’s revenue streams - such as those gained from the country’s exports and other unrelated income - be used as collateral for the Chinese debt as it is usually the case with Chinese loans?

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How China Collateralizes

As security, they [Chinese lenders] use liquid, easily accessible assets, such as cash in bank accounts located in China. They rarely take infrastructure project assets as collateral, but often rely for repayment on established commodity revenue streams unrelated to the project. Typically, EMDE governments and state-owned enterprises commit to route foreign currency proceeds from commodity sales through bank accounts controlled by the lender. The cash balances in these accounts can be very large; in low-income, commodity-exporting countries, they average more than 20% of annual PPG debt service to all external creditors.