Low-interest rate loans from China are attractive to African countries, says Senegalese president
- Beijing has often been the only source of long-term financing for big infrastructure projects, says Senegalese president
- ‘Long-term loans over 25, 30 or even more years with interest rates that are not over 2 per cent, yeah, we will accept that,’ says Sall
Loans from China are attractive to African countries due to the long-term financing with low-interest rates that they cannot get elsewhere, Senegalese President Macky Sall told US investors and Trump administration officials.
Speaking at the Investing in Africa’s Future conference on Friday, Sall said Beijing has often been the only source of long-term financing for African countries that they could not get through the private markets to finance big infrastructure projects.
However, he would not want the American friends to “see China’s intervention and China as a threat to the partnership with them, no”.
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“Chinese people give us long-term loans. And I think that the other partners will gain a lot in listening – listening deeply to Africa and Africans.”