China’s Loans to Sub-Saharan Africa Outweigh Those of Western Nations

Chinese banks provided more loans to fund developmental projects in sub-Saharan Africa than some of the world’s greatest economies combined from 2007 to 2020, according to a new study.

The Washington- and London-based Center for Global Development on Thursday also reported that Chinese development banks provided a whopping $23 billion to finance public-private partnerships in the region.

The figure is more than double the combined amount of $9.1 billion lent by banks in the U.S., Japan, Germany, the Netherlands, France and South Africa, the report found.