The Diplomat published on 3 November 2023 a commentary titled "What Did the 3rd Belt and Road Forum Mean for Africa?" by Trevor Lwere, research consultant at Beijing-based Development Reimagined.
The author concluded that the 3rd Belt and Road Forum held in Beijing last month had three important outcomes for Africa. First, loan money will keep flowing but will become more targeted and green. Second, small and medium sized enterprises will be prioritized. Third, China agreed to fund several new infrastructure projects in Africa.
Comment: The author is putting the best possible face on China's new "smaller but smarter" approach to lending in Africa. The fact is that Chinese loans to Africa dropped from a peak of $28 billion in 2016 to about $1 billion in each of the last two years.
