As the Chinese celebrate the government’s 70th anniversary, a new paper on Beijing’s relationships with African nations explores how Belt and Road Initiative (BRI) projects are actually being implemented – and it offers a few surprising conclusions. The paper from the Brookings Institution in the United States is part of…
Laureen is the editor of Africa Times
China again denied claims that its loan policies put African nations and others in the developing world into “debt traps,” countering reports that United States legislators are looking to pass legislation that would limit China’s ability to do so. Ministry of Foreign Affairs spokesman Lu Kang said Wednesday that Beijing’s…
Investigative reporters in India say they’ve uncovered what appears to be the biggest banking scam in the nation’s history, with a housing finance firm at the center and the money stashed in offshore assets in Mauritius, Dubai and other destination countries. Cobrapost, a nonprofit journalism outlet, presented its case against…
The UK’s development finance institution, CDC, and Standard Chartered Bank today announced an up to USD$100 million in investment funding to grow businesses in Zimbabwe – a move that heralds a new start for the country as the UK has long withheld support while awaiting economic and social reforms. The…
The World Bank has approved USD$180 million in loan guarantees to boost Kenya Electricity Generation Company Limited (KenGen) and the country’s energy sector. The KenGen project, supported by private sector financing, will build on Kenya’s progress in diversifying its energy sources – including geothermal power – while bringing much needed…
In a first for Japan, the country’s International Cooperation Agency (JICA) has signed a new loan agreement with the African Development Fund to provide USD$700.9 million to address poverty and support economic growth. “We hope the loans and grants will be used effectively to improve economic and social conditions of…
Electricity has been restored, water supply is intact and officials on Mauritius have identified roads and drainage systems needing repair because of Cyclone Berguitta – but food supply remains a problem in the short term. Heavy rainfall impacted farmers and about 75 percent of local vegetable production, said Mahen Kumar…