Thursday, February 1, 2018

Status of China's 2015 Commitment of $60 Billion for Africa

Brookings published on 30 January 2018 an analysis titled "China's Engagement in Africa: What Can We Learn in 2018 from the $60 Billion Commitment?" by Yun Sun.

During the 2015 FOCAC summit in Johannesburg, China announced a $60 billion package for Africa that included $5 billion in grants, $35 billion in concessional loans and export credits, $5 billion each for the China-Africa Development Fund and the Special Loan for the Development of African Small and Mid-Sized Enterprises, and $10 billion for a China-Africa Industrial Capacity Cooperation Fund. The goal was to complete the commitment by the end of 2018. The author has found that it is difficult to obtain precise figures for funding so far on each of these programs but believes China is on track for meeting most of the $60 billion financing commitment

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