More than half of the resource-backed loans taken out by sub-Saharan African countries examined in a study came from China Development Bank and China Exim. Photo: AFP More than half of the resource-backed loans taken out by sub-Saharan African countries examined in a study came from China Development Bank and China Exim. Photo: AFP
More than half of the resource-backed loans taken out by sub-Saharan African countries examined in a study came from China Development Bank and China Exim. Photo: AFP
China economy
China /  Diplomacy

How Chinese loans can become ‘perilous pitfalls’ for Africa

  • When crude oil prices fell sharply in 2014, the Republic of the Congo ended up paying more for its oil-for-funds loan with Chinese and other lenders than the deal was worth
  • Report by US-based NGO says African states that cannot go to money markets face big risks with the alternatives

Topic |   China economy
Jevans Nyabiage

Updated: 8:30am, 8 Mar, 2020

Why you can trust SCMP
More than half of the resource-backed loans taken out by sub-Saharan African countries examined in a study came from China Development Bank and China Exim. Photo: AFP More than half of the resource-backed loans taken out by sub-Saharan African countries examined in a study came from China Development Bank and China Exim. Photo: AFP
More than half of the resource-backed loans taken out by sub-Saharan African countries examined in a study came from China Development Bank and China Exim. Photo: AFP
READ FULL ARTICLE