Tag: loans
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China’s Growing Role in Multilateral Development Banks
While China has dramatically curtailed its bilateral development financing in Africa and other regions around the world, Beijing is increasing its engagement in multilateral and regional development banks around the world, including the African Development Bank among others. ...
Why FOCAC Matters Beyond Africa and China
By Lukas Fiala, China Foresight LSE IDEAS Final preparations are being made in Dakar, Senegal, ahead of this year’s Forum on China-Africa Cooperation (FOCAC) ministerial summit on the 29th and 30th of November. Next Monday, delegations of almost every African country will meet Chinese counterparts in the West ...
Letter to the Editor: Contrary to Widespread Misperception, China Has Restructured Some of Its Commercial Loans in Africa
Hi Eric and Cobus, I’m writing to follow up on a statement about Chinese debt relief you made in a recent column: …the fact is that China has canceled some zero-interest loans that only ...
As the World Forgets About the Debt Crisis, More African Countries Struggle to Stay Afloat Amid Rising Servicing Costs
Last year at this time, expectations ran high that Africa's largest creditors in Beijing, and among the Paris Club members were all motivated to restructure their outstanding loans to reduce the burden on some of the world's poorest countries. Well, it ...
Positive Perceptions of China Hold Steady in Africa, Says New Polling Data
The overwhelming majority of residents in 34 African states believe that China's influence in their country is largely positive, according to the latest survey results from the independent, non-partisan public opinion research agency Afrobarometer. Two-thirds of respondents told ...
Liberia’s House of Reps Blocks Controversial Chinese Mining Deal
A fascinating political struggle is playing out in Liberia over a controversial 25-year iron ore deal with Chinese company BAO Chico. Last week, the Senate ratified the deal in what critics contend was effectively a rubber stamp decision after only minimal discussion and no expert ...
World Bank Chief David Malpass on Debt Transparency and the Challenges of Working With the Chinese
World Bank President David Malpass pushed back against the suggestion that China engages in predatory lending to developing countries and instead described the lack of transparency in working with China as a "challenge." Malpass made the comments during an interview on Sunday with CBS Face the Nation ...
WEEK IN REVIEW: Washington’s Answer to the BRI Takes Shape as New Details About B3W Emerge
The U.S. government is now considering as many as 50 infrastructure projects for its new B3W initiative, which is aimed at countering China's Belt and Road Initiative. Earlier this week, administration officials hinted at around 20 projects, but apparently, that figure has now increased substantially. U.S. officials recently ...
Week in Review: Hostages Rescued in Mali, Rwandan Agribusiness & Nigeria Joins AIIB
Malian security forces on Monday rescued three Chinese nationals kidnapped by unknown assailants after the trio escaped their captors over the weekend. The three construction workers and two colleagues from Mauritania were seized on July 17. While the Mauritanians were freed 10 days later, the Chinese were held ...
Uganda’s Finance Minister Grilled by Parliament Over Chinese Airport Construction Loan, Apologized for Oversights
Uganda's Finance Minister Matia Kasaija apologized to parliament last week for the mishandling of the $207 million loan from the China Exim Bank to expand Entebbe International Airport. "I apologize that we shouldn't have accepted some of the clauses,"
CARI Researchers Critique AidData’s Report on Chinese “Hidden Debt” in BRI Countries
AidData's landmark research report published last month, "Banking on the Belt and Road," generated tremendous media coverage around the world, particularly related to the report's finding that $385 billion in so-called "hidden debts" are owed to China. ...
With New Chinese Money Hard to Come By, Kenya’s Treasury Turns to the Bond Market to Finance Infrastructure
The Kenyan government is making preparations to float its largest-ever bond offering, a record $1.3 billion (Sh150 billion) issuance. It will be used to settle debts with contractors, possibly including some Chinese companies, and to fund road projects that are currently in development.