Although Africa’s US$100bn plus investment financing gap may not be met solely by Chinese financing, China’s role is seen by many as crucial. China’s commitment was reiterated in September 2018, when President Xi Jinping announced a further US$60bn funding package for Africa and exempted a portion of African debt maturing at the end of 2018. The package consisted of US$15bn of interest-free or concessional loans, US$20bn of credit loans, US$15bn of special loans, and US$10bn in foreign direct investment (FDI).17
Specifically mentioned was the China-Africa Infrastructure Cooperation Plan, to be co-written by China and the African Union (AU). The plan states that China will strengthen its mutually beneficial cooperation with Africa in infrastructure planning, design, construction, operation and maintenance, and will participate in the construction of railway, highway, regional aviation, port, and power and telecommunications infrastructure in Africa, so as to enhance Africa’s sustainable development capacity.
Chinese financing for infrastructure projects has come mainly from two policy banks: China Exim Bank provided 67 per cent of the total loans between 2000 and 2015, and China Development Bank 13 per cent.
As already shown in Figure 2, infrastructure financing provided by China to Africa averaged US$11.5bn between 2012 and 2016, peaking at US$20.9bn in 2015. This included a number of larger transport and energy deals. For example, Chinese lenders provided over 50 per cent of the finance for the US$5.8bn Mambila Hydropower Plant in Nigeria. Another example is the planned Lamu Coal-Fired Power Plant (Kenya), a US$2bn public-private partnership (PPP)
While China’s infrastructure investments on the continent have assisted a number of African states to overcome their dependency on conditional foreign assistance and follow a non-interference clause, a frequent criticism is that such projects have produced little real benefit for local economies while increasing their debt burden. However, infrastructure investments, coupled with the establishment of Special Economic Zones (SEZs) in a number of African countries, could encourage positive spill-overs and unlock economic potential in value-adding industries across the continent.
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China’s emphasis on infrastructure construction increased with the launching of the Belt and Road Initiative (BRI).
First announced by President Xi in 2013, the BRI is a transcontinental development project that seeks to improve connectivity between Asia, Europe, and Africa, and ultimately increase trade and connectivity, development and prosperity along economic corridors.
It consists of two parts. The first is the Silk Road Economic Belt, which refers to the land connection through Central Asia to Europe. The second is the 21st Century Maritime Silk Road, a connection through Southeast Asia, South Asia, Africa, and, finally, Europe.
CORONAVIRUSES OR THE ART OF CONVERTING WHAT WOULD NOT HAVE BEEN NOR A SANITARY CRISIS INTO AN ECONOMIC CRISIS BALAEL: GOD'S BUILDING
Continuously bullish or bearish trends are the antithesis of compensation, within which these trends occur, in shorter branches, and vice versa.
Aristotle pulled Alexander the Great for the rebuilding of his Stagira city razed by Philip.
Then Alexander asked the philosopher Crates about Thebes, also destroyed, and he, witty and selfish, replied:
For what, if later another Alexander will come and destroy her again?
The hysteria would diminish, but it will not be eliminated, because the Social Welfare society is neurotic and hysterical out of necessity,
Other waves will come, and their breaks, other bugs, and their breaks, and hysteria, will give us multiple and varied fruits.
The toilets do their job, for which they are paid, and the Banking, insurers, electricity companies, providers, governments, friends, neighbors, all, without fail, are by our side, pending, helping us in condescending encouragement and such an affectionate word although far away company, and if it were necessary to postpone the collection of any peseta or real non-advertising effort, they would be postponed.
Because the solidarity of our world is neither real nor profound, it is hysterical and trumpet.
And that nobody expects from this ridiculous situation an opportunity to improve, not at all: the system will remain the same, and society will continue in its deep selfish and childish decline.
A painting reminds us of the equinoctial spring festival celebrated in Egypt under the lamb, because the fire from heaven had lit the world. At that feast, everything was marked in red, or the color of fire, as in the Passover, of the Hebrews
PEACE IS VICTORY
each vice and each virtue have their moment, inflexibility and honesty can be vice, or even virtue of selfishness.
It is the end that sustains chance and this one to luck.
The happiness of exposing oneself to danger if it is long measures the race and the loneliness that engulfs and fills.
Religion is a delusion for whom its end is daily among us.
The mystical is not deep, but high, always.
The head, superior or inferior, is irrational when suspending itself in dealing with the virtues.
Even in prayer you can think of yourself and loving courtesy.
If when you rise you go deeper and you fall into the most uncomfortable dignity.
he would only gladly pay taxes in imperial currency without the face of Caesar.
Our heaviest or man-eating or love convictions need not betray us.
See things at a glance, at a stroke, to miss all the main details.
On the horizon of infinity there is no land in sight and no land behind for lovers, be they timid or bony.
Scientific arguments and good taste go against Christianity.
But how far we are from our time.
To the hard skin of the humility of the Stoic we must add the thin epicure skin of the drum of pride and vanit.
To date, more than sixty countries—accounting for two-thirds of the world’s population—have signed on to projects or indicated an interest in doing so.
Experts see the BRI as one of the main planks of a bolder Chinese statecraft under Xi, alongside the Made in China 2025 economic development strategy. For Xi, the BRI serves as pushback against the much-touted U.S. “pivot to Asia,” as well as a way for China to develop new investment opportunities, cultivate export markets, and boost Chinese incomes and domestic consumption.
“Under Xi, China now actively seeks to shape international norms and institutions and forcefully asserts its presence on the global stage,” writes CFR’s Elizabeth C. Economy.