From Reuters:
China’s rapid rise into an economic powerhouse offering aid and soft loans is changing the aid picture in Africa — winning China its share of critics but also the gratitude of governments who say its engagement makes a difference.
The World Bank has accused China of financing projects rejected by others because of environmental concerns and rights groups say it lends without regard to standards on governance or corruption.
But others say China, whose financial capital Shanghai played host to the May 16-17 annual meeting of the African Development Bank, is simply changing the status quo of an aid game long monopolised by Western powers and multilateral lenders.
“My view from here is that China’s investment in Africa is good for Africa,” said Adrian Davis, who heads the China office at Britain’s Department for International Development. [Full Text]
