Africa is more indebted to western countries than China [Gerald Mbanda]

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|| In 2019, the Africa development bank (AfDB) estimates showed that the continent needed a minimum of US$ 130bn to US$ 170bn per annum, for infrastructure development and half of the needed amount remained un funded.
According to CARI statistics, the biggest African borrowers from China in 2019, were; Ghana, US$ 1.25 Billion, South Africa, US$ 1.24 Billion, Egypt US$ 1.2Billion, Ivory Coast US$671Million and Nigeria US$ 560million. Much of the Chinese loans to Africa go mainly to the transport sector especially in infrastructure development, power, mining, ICT, water, etc.  

The China Belt and Road Initiative (BRI) is much appreciated in many African countries for improving transportation and energy investment in Africa 
https://africachinareview.com/africa-is-more-indebted-to-western-countries-than-china/ || 

#BRI #AfricaChina via Turin Ahmed

Source Article:

https://africachinareview.com/africa-is-more-indebted-to-western-countries-than-china/

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