foreign loans

China Pledges $10 Billion to African Nations

The New York Times reports on the Forum on African-China Cooperation currently underway in Egypt: Prime Minister Wen Jiabao pledged to grant African countries $10 billion in low-interest development loans over the next three...

Obstacles face China’s president on 2nd trip to Africa – Tim Johnson

The Mercury News reports on Hu Jintao’s visit to Africa, his second in nine months: Hu’s first stop is Cameroon, then he heads to Liberia, Sudan, Zambia, Namibia, South Africa, Mozambique and the Seychelles before returning to China 12 days later. Driven by its resource-hungry economy and seeking greater global clout, China is courting African […]

China announces $3 billion loan plan for Africa

From SanDiego.com: China will lend African nations $3 billion in preferential credit over three years and double aid and interest-free loans over the same time, Beijing said on Monday ahead of President Hu Jintao’s tour to woo the continent. The announcement by China’s Ministry of Commerce stressed the offer came with none of the strictures […]

World Bank hits at China over lending РFrançoise Crouigneau and Richard Hiault

From Financial Times: Paul Wolfowitz, the president of the World Bank, has sharply criticised China and its banks for ignoring human rights and environmental standards when lending to developing countries in Africa. Mr Wolfowitz said big Chinese banks ignored the so-called “Equator Principles”, a voluntary code of conduct pledging that projects financed by private bank […]

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