Tag: finance
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No Reprieve for Kenya’s Loan Bid as Chinese Banks Resist Move
Kenya is moving forward with repaying Chinese creditors after the Treasury failed to secure an extension of a 6-month debt repayment holiday that expired in June. The Treasury said on Monday that it will meet all of its Chinese debt obligations, particularly to the China Exim Bank ...
Why Chinese Coal Financing Along the BRI Will End With Whimper Not a Bang
There's been growing excitement among environmentalists around the world that China may finally be ready to abandon its once expansive overseas financing of coal power plants, particularly in Belt and Road member countries. Last week, the Green BRI Center published ...
Howard French Isn’t Very Impressed With the G-7’s Build Back Better World Initiative
Journalist and author Howard W. French is among the most thought-provoking U.S. scholars on Chinese engagement in Africa and Beijing's rapidly evolving global presence. French recently joined Brookings Institute Senior Fellow David R. Dollar on the Brookings Trade Podcast Dollar & Sense to discuss how ...
A Lot of People Mistakenly Think China’s The Major Funder of Coal Plants Around the World. New BU Report Says That’s Not the Case.
China is indeed the largest government funder of coal power projects around the world, accounting for 50% of coal projects that reached financial closure between 2013 and 2018, according to a new policy brief from Boston University's Global Development Policy Center.
Senegal Launches Digital Sovereignty Initiative With New Chinese-Backed Data Center
Senegal is following China's lead in pursuing a new "digital sovereignty" initiative that will require all government data and digital platforms on foreign servers to be stored in a new national data center. "We have to rapidly repatriate all national data hosted out of the country,”
Many in U.S. & Europe Think China’s Belt and Road is Slowing Down. Leading Chinese Development Scholars Says They’re Looking at the Wrong Data.
Leading U.S. think tanks including CSIS and international media outlets like the Financial Times have settled on a narrative that the sharp reduction in Chinese overseas development lending provides the clearest evidence to date that China's Belt and Road Initiative is "pulling back" ...
An Update on Chinese Lending in Africa (It’s Not Good News)
This week's launch of the new Lagos to Ibadan Standard Gauge Railway may be the last time for a long while that a big multibillion dollars infrastructure project like this is built in Africa using Chinese loans. Chinese development ...
Report: The Belt and Road Is Becoming Greener as China Backs Away From Financing Coal Power Projects
China has a well-deserved reputation for being the financier of choice for coal-powered energy projects around the world. While many other development finance agencies have backed away in recent years from underwriting heavily polluting power plants, China seemingly went the other way.
Nigeria Gives Up on Chinese Lenders to Finance Two Railway Projects, Talks With Standard Chartered Now Underway
The slowdown in Chinese infrastructure development lending in Africa is on vivid display in Nigeria, where the country's Transportation Minister acknowledged that he's no longer counting on Beijing to finance a pair of multi-billion railway projects, according to a Bloomberg report. ...
A 2021 Update On What We Know About Chinese Lending to African Countries
There's ample evidence of a sharp decline in Chinese lending to developing countries, specifically in Africa. But that doesn't mean that China is out of the development financing game altogether. Zainab Usman, director of the Africa Program at Carnegie Endowment for ...
OPay Seeks to Raise $400 Million For Expansion Signaling Chinese VCs May Be Ready to Return to Africa
The Chinese-backed African fintech platform OPay is reportedly in talks with investors to raise as much as $400 million at a valuation of more than $1.5 billion, according to a report in The Information. That valuation, by the way, is three times higher than the ...
China’s Role in the African Infrastructure Financing Crisis
African infrastructure financing is facing a crisis. Financing levels have plunged from $100 billion a year in 2014 to just $31 billion last year, according to a new report published by the international law firm Baker McKenzie.