After several years of declining funding, the African end of the Belt and Road Initiative seems to be roaring back. The newest Griffith University/Green Development Finance Center data on the Belt and Road Initiative shows that engagement with Africa jumped by 395%, while a few big projects boosted engagement in Nigeria alone more than twelvefold.
These shifts indicate a window of opportunity for African electrification. 60% of Africans still ...
Tag: New Global Financing Pact
Related Posts
Zambia’s Landmark Debt Deal Highlights China’s Success in Setting New Rules for Development Finance
Zambian President Haikinde Hichilema looked visibly relieved following Friday's announcement that the country's creditor committee had finally reached an agreement to restructure $6.3 billion of bilateral external debt. The deal that took more than two years to finalize was unveiled by ...
Saying the Quiet Part Out Loud on Africa’s Green Transition
This has been a week of revealing contrasts, so revealing that a screenwriter might find them a bit on the nose. Most prominent was the global attention focused on the underwater fate of a small group of rich people and the general ...
Paris Summit Takes Triple Aim at Debt, Climate, Development
The Summit for a New Global Financing Pact, aimed at reforming the increasingly dysfunctional development financing system, kicks off in Paris on Thursday. Its aims are huge. In the words of Catherine Colonna, the French Minister of Europe and Foreign Affairs, the goal is ...
Backgrounder: Why China Matters So Much at the Summit for a New Global Financing Pact
In Paris, all eyes are on Chinese Premier Li Qiang, representing the People’s Republic at this week’s Summit for a New Global Financing Pact. China’s rise is perhaps the most important mega-trend that led to the current rethinking of the global development finance system, but it remains ...
China Raises the (Already Sky-High) Stakes at This Week’s Summit for A New Global Financing Pact
The Global South faces dual existential crises: speeding up development to match growing population rates while trying not to become climate roadkill. Both are worsened by a broken international development financing system increasingly hijacked by geopolitics. This week’s Summit for a New ...