Real! U.S. think tank: China's investment in infrastructure in sub-Saharan Africa dwarfs that of the West

According to Reuters reported on the 9th, a new study by the US think tank shows that China's investment in infrastructure projects in sub-Saharan Africa is more than twice the total amount of such financing in the United States, Germany, Japan and France. Reuters said that this dwarfed the West.

Screenshot of the Reuters report

The Center for Global Development (CGD), a Washington-D.C. think tank, released a research report. Between 2007 and 2020, the Export-Import Bank of China and the China Development Bank provided $23 billion in financing infrastructure in sub-Saharan Africa, the report said. In contrast, the Western figure is stuck at around $9 billion, far below the money needed for roads, dams and bridges in the region.

Among them, the main financing institution in the United States, the International Development Finance Corporation, provided only $1.9 billion in loans for infrastructure in the region during this period, less than 1/10 of china's loans. The report also found that from 2016 to 2020, multilateral development banks such as the World Bank provided an average of only $1.4 billion per year.

Lead author Nancy Lee, a senior policy fellow at CGD, put it bluntly that the West is slow to increase investment, "if Western governments want to raise productive and sustainable investment to meaningful levels, they need to deploy their own development banks and pressure multilateral development banks to make these investments a priority." ”

At the Foreign Ministry's regular press conference on November 9, 2021, a Bloomberg reporter in the United States mentioned that the Biden administration is expected to launch a global infrastructure financing plan to counter China's "Belt and Road Initiative", which is called "Rebuilding a Better World".

Foreign Ministry spokesman Wang Wenbin said that China believes that there is a vast space for cooperation in the field of global infrastructure, and there is no problem of competing or replacing each other in various related initiatives. Wang Wenbin stressed that what the world needs is "building bridges", not "dismantling bridges"; "interconnection", not "mutual decoupling"; "mutual benefit and win-win", not "closed and exclusive", hoping that the United States will come up with practical actions to promote the common development and revitalization of all countries in the world. (Editor: SDY)