Italy has announced its formal withdrawal from the Belt and Road Initiative after joining the China-centered infrastructure and investment project in 2019.
The timing of the announcement that Rome won’t renew its BRI commitment is notable. It came only a day before the EU-China summit, which kicks off on Thursday. The summit will likely be more contentious than usual, with European leaders expected to push China on the treatment of EU firms amid discussions ...
Country: Uganda
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 ...
What Does Chinese Lending to Africa Look Like Now?
China has been one of the most important development lenders to Africa over the last quarter of a century. This has transformed the African development landscape in helpful and problematic ways. It is also changing very rapidly. A new report from ...
Chinese Debt Servicing Costs Surge for Angola and Uganda
Debt servicing costs have been steadily rising across Africa, largely due to the falling value of local currencies that are used to repay dollar-denominated loans. But in Angola and Uganda, interest payments to Chinese creditors have jumped considerably in recent months ...
Chinese Foreign Policy Viewed Decidely Negative in 24- Country Pew Survey
Publics in two dozen countries around the world, mostly advanced economies in the Global North, are increasingly negative about China and its foreign policy, according to the findings of Pew Research Center's annual Global Attitudes Survey. Unsurprisingly, negative views about China ...
China’s Horn of Africa Envoy Addresses East African Leaders’ Forum in Djibouti
China's low-profile special envoy for the Horn of Africa, Xue Bing, made a rare public appearance on Monday to address the opening session of the Intergovernmental Authority on Development Leaders forum in Djibouti. Xue joined special envoys from Italy, the ...
Analysis from Cobus van Staden
Awkward Timing as Italy Withdraws from BRI
If You Lead a Developing Country and Want to Borrow Money From China, Then Listen to This Podcast
The days of China easily handing out billions of dollars to build infrastructure in developing countries around the world are now over. The Chinese can't afford it anymore and many of the borrowing countries just don't have the capacity to take ...
The Kenyan Government Apparently is Unaware China Doesn’t Finance Railways in Africa Anymore
The Kenyan government is going to make one more attempt to try and persuade China's policy banks to lend them money to extend the Standard Gauge Railway from its current terminus in the Rift Valley all the way to the Ugandan border via Lake Victoria. ...
Environmentalists: China Should Invest More in Renewable Energy Rather Than the East African Crude Oil Pipeline
Even as Uganda is seeking $1.8 billion for the East African Crude Oil Pipeline (EACOP), some Ugandan environmentalists are expressing displeasure with China’s involvement with the project. Their frustration stems from reports that China will finance the project after ...
China Exim Bank to Finance Controversial East African Oil Pipeline: Media Reports
The China Exim Bank will reportedly come to the rescue of the East African Crude Oil Pipeline after Standard Chartered Bank withdrew from the project that aims to transport oil from western Uganda to the coast of Tanzania. Ugandan Energy Minister Ruth ...
Uganda’s Oil & Gas Charm-Offensive on Chinese Companies as Activists Intensify EACOP Protests
Climate security campaigner 350.org is pleading with financiers to withhold support of the construction of the 1,443km East Africa Crude Oil Pipeline (EACOP) which cuts across Tanzania and Uganda. On Thursday, the New York-based organization accused France's TotalEnergies of profiteering from ...