Alarm Over China’s Congo Deal – William Wallis and Rebecca Bream

800Px-Locationdrcongo.Svg From The Financial Times:

Mining companies, the International Monetary Fund and other donors were scrambling on Wednesday for clarification of a planned deal between China and the Democratic Republic of Congo.

The deal would tie up mineral resources in exchange for $5bn (€3.6bn, £2.5bn) in infrastructure projects and loans. A preliminary agreement was signed this week just as an IMF mission landed in Kinshasa to review progress towards the resumption of budget support for .

World Bank and African Development Bank officials seem to have been caught offguard by the scale and timing of China’s plans. [Full Text]

September 19, 2007, 7:56 PM
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