China is Claiming 46 Billion pounds of Funding for Africa. China has pledged to invest 46 billion pounds in the coming years in Africa.
The money is released in the form of government assistance and investments in financial institutions and companies.
The Chinese Prime Minister Xi Jinping stated this during a conference on cooperation between China and Africa.
He insists that it will project that have to deal with massive bottlenecks in the progress of the continent.
China has previously formed significant investments in infrastructure projects in Africa, but also in countries in Asia.
For these countries, these investments mean a considerable increase for the infrastructure,
without any hard requirements being placed on the support as countries in the West often do.
Some loans finance projects that are not viable
But there is also criticism. In the past, loans were sometimes implemented that were too large for the countries.
Also, plans are not always sustainable.
For example, last year the government of Sri Lanka failed to meet the conditions of a massive loan for a port.
After lengthy discussions, a Chinese state-owned company finally took over a controlling interest in the port.
Critics therefore sometimes address a new form of colonialism.
