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With Chinese Infrastructure Financing Drying Up in Africa, China’s Contractors Now Look to Europe

Chinese workers stand at the construction site of Standard Gauge Railway (SGR) during the Presidential Inspection of the SGR Nairobi-Naivasha Phase 2A project in Nairobi, Kenya, on June 23, 2018. Yasuyoshi CHIBA / AFP

China’s construction giants are knocking on the doors of development finance agencies in Europe in a bid to find new sources of funding for projects in Africa, according to a report in Global Trade Review.

Until recently, Chinese contractors could count on a steady flow of money coming from the country’s main policy banks, the China Development Bank and the China Exim Bank, but that’s no longer the case as they’ve largely exited the business of underwriting large-scale infrastructure projects on the continent.

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