Chinese funding of Sub-Saharan Africa dwarfs that of the West: think-tank
Between 2007 and 2020 Chinese development banks provided $23bn compared with $9.1bn from others
China’s development banks provided $23bn (R352bn) in financing for infrastructure projects in Sub-Saharan Africa from 2007 to 2020, more than double the amount lent by such banks in the US, Germany, Japan and France combined, a new study shows.
The Center for Global Development think-tank said a review of 535 public-private infrastructure deals funded in the region in those years showed China’s investments dwarfed those of other governments and multilateral development banks.
Nancy Lee, lead author of the paper and a senior policy fellow at the centre, said overall public funding for projects in Sub-Saharan Africa remained stuck at about $9bn (about R138bn), well short of what the region needs for roads, dams and bridges...