(Hong Kong Comprehensive News) Hong Kong media reported that after Chinese officials proposed to increase another $ 10 billion in funds to assist Africa, millions of dollars are flowing to African financial institutions to provide loans to small and medium -sized enterprises.
The South China Morning Post reported on Saturday (October 28) that China Import and Export Bank and National Development Bank have agreed to provide US $ 1.3 billion (S $ 1.78 billion) loans to African multilateral development financial institutions this year.At the "Belt and Road" International Cooperation Summit Forum last week, African Import and Export Bank also received a credit limit of $ 600 million from China Import and Export Bank.It is reported that this will promote the trade between the member states of African import and export banks and China.
Chinese official announced in August this year when attending the BRICS Summit in South Africa that Chinese financial institutions will launch a special fund of $ 10 billion to implement the global development initiative.
Data from the Global Development Policy Center of the University of Boston in the United States shows that from 2000 to 2022, China ’s banks and institutions such as Africa, Trade Development Bank, and West Africa Development Bank signed 21 loan commitments for African regional banks, worth $ 2.94 billionEssence
However, a paper published by the University of Boston's Global Development Policy Center last month pointed out that China's loan on Africa reached a peak of US $ 28.4 billion in 2016 and went downhill. Last year, it fell to 994 million US dollars.It was the lowest since 2004.Chinese officials responded that China -Africa financing cooperation turned to "small and beautiful" projects.
