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.