Wednesday, May 31, 2023

Chinese Banks Agree to Finance Controversial East African Oil Pipeline

 The South China Morning Post published on 21 May 2023 an article titled "China Doubles Down on Controversial African Pipeline as Western Leaders Walk Away" by Jevans Nyabiage.  

Strong opposition by environmental and human rights groups have minimized Western lending for the East African Crude Oil Pipeline from Uganda's Lake Albert oilfields to the port of Tanga in Tanzania.  China's Export-Import Bank and several other Chinese banks have agreed to finance the controversial project.