Every Tuesday and Thursday, Inkstone Index features one important number about China to give you insight into the rising power.
$147 billion: How much China loaned to Africa from 2000 to 2018.
In less than two decades, China has grown to become the largest lender to sub-Saharan Africa, surpassing the World Bank and the Paris Club.
China’s loans to Africa are lent from the Chinese government, banks and contractors to African governments and their state-owned enterprises.
The investments have helped to lift living standards in the continent. But China’s growing presence in Africa has also alarmed the US and Europe as they jockey for global influence.
China holds loans in 50 of the 54 count
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Jul 28, 2020