Category: Economy
African, Chinese Exim Banks Sign $600 Million Trade Deal
China Exim Bank has signed a $600 million deal with the African Export-Import Bank to boost trade and economic cooperation between Afreximbank member states and China. At present, it is unclear which specific sectors will be targeted via the deal, which was signed ...
Chinese President Xi Jinping Outlines Next Phase of BRI
China will funnel about $100 billion into its state banks to fund the next phase of the Belt and Road Initiative (BRI). This was one of the announcements during Chinese President Xi Jinping’s keynote presentation at the Belt and Road Forum, during which he outlined expansive plans for ...
Kenya’s President Appeals to Chinese Investors to Finance Railway Extension to Ugandan Border
Kenyan President William Ruto issued a direct appeal to Chinese investors to finance the extension of the Standard Gauge Railway (SGR) to the Ugandan border. The president explained that completing this last portion of the railway would unlock significant economic opportunities throughout ...
Ethiopian Prime Minister Meets China’s Premier
Ethiopian Prime Minister Abiy Ahmed held talks with Chinese Premier Li Qiang in Beijing on Monday. The PM is on an official visit to China and will attend the Belt and Road Forum. In the Xinhua
The Belt and Road Forum Is All About Deals, Deals, Deals
One of the reasons so many leaders from around the world are in Beijing is because the Belt and Road Forum is expected to be an important space for new deals. Some leaders are traveling with large corporate entourages in the hope of finalizing trade and investment ...
Kenyan President’s Economic Diplomacy Agenda Will be Tested in Beijing This Week
Among the dozens of leaders attending this week's Belt and Road Forum in Beijing, few are under as much pressure to deliver tangible results from the event as Kenyan President William Ruto. Back home, the Kenyan economy is in serious trouble
World Leaders Descend on Beijing Before Tuesday’s Belt and Road Forum Kickoff
Top officials from around the world are arriving in Beijing this week for the third Belt and Road forum, which comes as China celebrates the 10th anniversary of the signature infrastructure initiative. Some 130 representatives are expected to attend. The gathering ...
Chinese Loans Had Clear Development Impact in Africa: Report
The adjustment of Chinese lending to Africa and other parts of the Global South in line with changing economic conditions at home will open space for other countries, said IMF Managing Director Kristalina Georgieva. Speaking at a
China State Media Launches New BRI Outreach Program to Africa
Outreach from China’s state media to African counterparts has gained new energy in the run-up to this week’s Belt and Road Forum. China’s state-owned media house China Media Group on Sunday announced the release of a “China-Africa media action initiative about the Belt and Road ...
Poor Countries Seek Bilateral Debt-Relief Efforts After Rebuf From IMF and World Bank
The International Monetary Fund's director dismissed calls debt cancellation from Ghana, Nigeria and other countries on the continent, saying it would adversely impact domestic creditors. (INVESTING) ETHIOPIA: After receiving debt relief from China, Ethiopia is reviving ...
An Empirical Perspective on Ten Years of China’s Belt and Road Initiative
By Kevin P. Gallagher China’s Belt Road Initiative (BRI) – the ambitious and loosely defined program of overseas investment, economic integration, and South-South Cooperation – turns ten this month. A plethora of stories have abounded since the onset of the ...
Chinese Construction Projects in Kenya Stall Amid Worsening Economy
For Kenya, repaying its loans sustainably is now a matter of concern since the country’s currency is devaluing fast in what the Central Bank said is “adjusting from policy mistakes”.