The BRICS group wrapped up its two-day leaders’ summit in Rio de Janeiro on Monday. The summit’s final communique is a 16,000-word doorstop that covers numerous issues from economics to education.
The communique avoids any direct mention of the United States, and references to “unilateralism” and other coded criticism are also relatively scarce. Rather, the communique keeps the focus on the BRICS’ vision of the strengthening and reform of the global multilateral system ...
Tag: AfDB
Related Posts
Two of China’s Largest Construction Companies Face New Legal Challenges in Kenya
Two of China's largest construction companies, the China Road and Bridge Corporation and China Gezhouba Group, are facing new legal challenges from local partners and authorities in Kenya: NAIROBI WESTERN BYPASS: Kenya's Auditor General Nancy Gathungu accused the ...
Japan Pledges $30 billion in Funding at Africa Summit
Japan will extend $30 billion in funding to aid African development. This is the major outcome of the eighth Tokyo International Conference on African Development, which took place in Tunisia this weekend. Speaking virtually, Japan’s Prime Minister Fumio Kishida pledged funding across several cooperation ...
African Development Bank Collaboration Reveals Overlaps Between Japan’s and China’s Goals
A key announcement at TICAD 8 was that Japan will provide $5 billion to the African Development Bank (AfDB) under the fifth phase of the Enhanced Private Sector Assistance for Africa initiative (EPSA) from 2023 to 2025. EPSA is a Japan-led multi-donor platform to ...
What Do the African Development Bank Annual Meetings Mean for Chinese Energy Finance in Africa?
By Oyintarelado (Tarela) Moses This week, the African Development Bank (AfDB) convenes its annual meetings in Accra, Ghana under the theme of Achieving Climate Resilience and a Just Energy Transition for Africa. As countries throughout the region experience the effects ...
David Hundeyin: The U.S. Drive to Investigate the Head of the AfDB Doesn’t Have Anything to do With Corruption, It’s All About China
Business Day (Nigeria) columnist David Hundeyin echoed the increasingly popular sentiment in Nigeria that geopolitics, not an effort to fight corruption is behind the U.S.-led drive to investigate Akinwumi Adesina, the popular president of the African Development Bank. Hundeyin, ...
Analysis from Cobus van Staden
World Bank Chief’s Criticism of AfDB Lending Practices Also Reflects Broader U.S. Anxiety About Chinese Debt in Africa
Officials at the African Development Bank (AfDB) are still smarting over last week's comments by World Bank president David Malpass who accused the AfDB of having “a tendency to lend too quickly and add to the debt problem of the countries" on the ...
As African Leaders Say Don’t Worry, IMF Issues New Warning on Rising Debt Levels Across the Continent
There are conflicting messages emerging about the potential risks associated with Africa's steadily rising debt levels. Yesterday, the IMF issued a new warning that the amount of debt that African governments now owe has doubled over the past years as borrowing from capital markets and bilateral lenders, ...
“The Idea That Africa is Drowning in Debt is Nonsensical”
The former president of the African Development Bank, Dr. Donald Kaberuka, joined a chorus of African leaders this week to reject accusations that African governments have taken on too much debt and have borrowed excessively from China. In a speech at ...
AfDB President: “Africa Has Absolutely No Debt Crisis”
The Chinese are often accused of fueling a debt crisis in Africa due to excessive lending. While are certainly worrisome levels of debt in some countries, particularly Djibouti, Zambia and Kenya among others, the president of the African Development Bank, Akinwumi Adesina, told Bloomberg that worries ...
China's New Diplomatic Strategy in Africa: Humility
Just a few weeks after visiting Chinese premier Li Keqiang admitted that China was going through "growing pains" in its engagement Africa,