New Chinese Development Funding for Southern Africa

Exterior of the China Development Bank Tower in Shanghai.

The Development Bank of Southern Africa (DBSA) signed a $293 million loan facility agreement with China Development Bank. The funding will support energy, infrastructure, water, health, and manufacturing projects on the continent. The agreement was signed on the sidelines of the BRICS summit in Brazil earlier this week. It is the first such cooperation between the two banks, and strengthens an emerging trend of Chinese development lending being increasingly aimed at regional development banks.

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by CGSP Staff

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