The lowest Chinese official for African loans to the lowest in the 20 years: It has no

The loan provided by China to Africa has fallen to the lowest in 20 years. Chinese officials said that China and Africa have encountered difficulties in financing in financing, but China did not stop suspension of infrastructure financing on Africa."s project.

Africa is one of the areas focusing on China's focus on the "Belt and Road" initiative, but when the initiative enters the 10th anniversary, China's sovereign financing for Africa is significantly reduced.

The University of Boston University in the United States shows that China's loan on Africa reached 28.4 billion US dollars (S $ 38.8 billion) in 2016 and went downhill year by year. The epidemic decline in three years.It was the lowest since 2004.

With the slowdown of domestic economic growth and the debt concerns of African countries, some analysts believe that China's sovereign financing on Africa has shifted in policy.

In this regard, Wu Peng, director of the African Department of the Ministry of Foreign Affairs of China on Wednesday (October 12), said: "I can't deny that China and Africa face challenges or difficulties in financing cooperation ...Ignore these challenges "

But he emphasized that in the confidence, Africa can continue to cooperate, and China has not stopped providing financing to African infrastructure projects.

He said: "We are turning to the project we call 'small and beautiful' ... If the ability to repay and sovereignty in a country is good, and the economic feasibility of the project is no problem, we will provide such projectsFinancing.

Wu Peng explained the above positions at the press conference of China at the Research Research (Research) Report on the Research of China at the Institute of New Structure Economics of Peking University.

Although most countries in Africa welcomes China's loans and infrastructure projects, Beijing has also been accused of letting these poor countries bear unsustainable debt.

Ivan Zyuulu, the Ambassador to China in China and the Malawi ambassador to China, Allan Joseph Chintedza, all discussed, calling on China to adjust the period of debt repayment in African countries.

Zambia announced in November 2020 that it was difficult to pay the interest on sovereign bonds on schedule. It was the first African country to default after the epidemic.

Qiwu Lu also mentioned the rent -seeking problem caused by sovereign financing.He said: "Corruption makes these debts very expensive and difficult to repay, because many financing does not go to the final project."

Jang Ping THIA, senior economist of Asian Infrastructure Investment Bank and director of the Ministry of Economic Affairs, also pointed out that African countries need loans and infrastructure, but the timing of building these infrastructure is very important. It should be done.Good planning and coordination, staggered the project.

He mentioned some of the cases he had contacted, one of which built a large -scale construction of buildings, highways and other infrastructure in African cities, but the usage rate was very low.highway.

Cheng Zhangbin's suggestion: "Construction in progress rather than build a large scale overnight, and manage these projects well."