Chinese banks provided more loans to fund developmental projects in sub-Saharan Africa than some of the world's greatest economies combined from 2007 to 2020, according to a new study.
The Washington and London-based Center for Global Development also reports that Chinese development banks provided a whopping U.S.$23 billion to finance public-private partnerships in the region - a figure that is more than double the combined amount of U.S.$9.1 billion lent by banks in the U.S., Japan, Germany, Netherlands, France and South Africa.
The global think-tank examined more than 500 infrastructure projects in Africa, with a private sector component that reached financial closure during the period, reports Ignatius Annor for Voice of America.
Africa: China's Loans to Sub-Saharan Africa Outweigh Those of Western Nations
VOA, 10 February 2022
Chinese banks provided more loans to fund developmental projects in sub-Saharan Africa than some of the world's greatest economies combined from 2007 to 2020, according to a new… Read more »
Many stress the critical role of the private sector in filling yawning sub-Saharan Africa (SSA) infrastructure finance gaps, only widened by the pandemic. Our paper looks in detail at financially closed (construction-ready) transactions with private participation in SSA from 2007-2020. Despite the "billions to trillions" vision, we find no sustained upward trends for such transactions in volumes of total finance, multilateral development bank (MDB) finance, private finance, the share or
see more »Africa: Risks and Rewards of Continent's Access to International Capital Markets
ISS, 10 February 2022
International bond markets offer a ready funding stream but could increase debt vulnerabilities if not properly managed. Read more »
Nigeria: Assets-Tied Loans - China Counters 'Distorted' Reports
Premium Times, 29 November 2021
Critics - including watchers in Nigeria, Africa's largest economy that is also relying on "generous" Chinese loans to fund critical infrastructural ambitions - say Beijing is… Read more »
Africa: Is Democracy Relevant to Africa Now or the Chinese Loans in Exchange for Natural Resources?
New Dawn, 23 November 2021
The US State Department chief scribe, Antony J. Blinken, who is constitutionally referred to as the secretary of state has been parading East and West Africa in recent past with… Read more »
Nigeria: Govt Plans to Obtain More Loans From China
Premium Times, 16 June 2021
Last week, the government said it will source funding to develop two key rail lines, from Standard Chartered Plc. Read more »
The government of China has announced a partial pardon of debt totalling U.S.$36 million, equivalent to about 2% of Mozambique's debt with the Asian country, to help in the fight against Covid-19. The partial pardon results from an agreement signed in Maputo by China's ambassador to Mozambique, Wang Hejum, and Mozambique's minister of Foreign Affairs and Cooperation, Veronica Macamo. According to the Minister of Economy and Finance, Adriano Maleiane,
Read more »
It is almost a year since the start of the Covid-19 pandemic. G-20 countries mobilised more than U.S.$11 trillion in stimulus packages, printing additional money to combat its scourge. Some of the world's poorest countries lack available liquidity to keep their economies afloat, let alone tackle the Covid-19 pandemic and care for its citizens. This is the case with Zambia, Africa's second-largest copper producer. Even before the pandemic, It has struggled with its finances, owing U.S.$11.1
Read more »
The main opposition, the Peoples Democratic Party has chided President Muhammadu Buhari for his plan to take a U.S.$1.2 billion loan, this time from Brazil. There has been huge public outcry over loans made by the government from countries like China and other foreign entities. The government said it is seeking approval from the National Assembly for the loan to address issues in the agriculture value chain. Recently, Zainab Ahmed, the minister of finance, said that the public
Read more »
President Edgar Lungu has requested debt relief and cancellation from China due to the economic impact of the novel coronavirus pandemic, his office has said. Zambia's public debt has increased significantly in recent years although it's unclear exactly how much is actually owed to China. However, the external debt is projected to soar above 60% of GDP in 2020.
Read more »
Yun Sun, the director of the China program at the Stimson Center, a Washington-based policy research center says that "the Chinese economy is taking a heavy hit from COVID-19" and "that's absolutely going to dampen the Chinese ability to disperse financing or continue to support infrastructure projects in developing countries including Africa, at a rate that it did before'.
Read more »
AllAfrica publishes around 600 reports a day from more than 90 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.
Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.
AllAfrica is a voice of, by and about Africa - aggregating, producing and distributing 600 news and information items daily from over 90 African news organizations and our own reporters to an African and global public. We operate from Cape Town, Dakar, Abuja, Johannesburg, Nairobi and Washington DC.
Get the latest in African news delivered straight to your inbox
