Chinese lending to Africa dropped by nearly half to US$2.1 billion in 2024 compared with the previous year, according to a new report.
The fall, from US$3.9 billion in 2023, was part of a decade-long trend. Lending had been on an upwards trajectory since 2006 and peaked between 2012 and 2018 – a period that saw the launch of the Belt and Road Initiative when lending passed the US$10 billion mark each year.
At its height, in 2016, Beijing lent US$28.8 billion, but the total has not passed the…
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