In Summary
  • Chinese foreign investment and construction between 2005 and 2018 totalled $298 billion in sub-Sahara Africa.

  • China is the single largest bilateral financier of infrastructure in Africa, exceeding the combined total of the African Development Bank (ADB), the European Union, International Finance Corporation, the World Bank and the Group of Eight countries.

ADDIS ABABA

Chinese Foreign Minister Wang Yi played down concern over Africa's debts with Beijing on Thursday as he arrived in Ethiopia at the start of a four-nation Africa tour.

China has funnelled cash and loans into infrastructure projects across the continent, where many African leaders consider Beijing's terms a better deal that than those offered by bilateral Western nations.

Wang initially sidestepped concerns, often made by Western nations, about whether the debt repayments were sustainable.

"Generally, debt in Africa has been a protracted issue left from history," Wang said. "It didn't come up today, still less is it caused by China."

China is the single largest bilateral financier of infrastructure in Africa, exceeding the combined total of the African Development Bank (ADB), the European Union, International Finance Corporation, the World Bank and the Group of Eight (G8) countries.

Page 1 of 2