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Sunday, July 3, 2022

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Angola: Top Beneficiary of $89.6bn Chinese Loans to Africa

From 2000 to 2014, Angola received 23% of Chinese loans to African governments and public institutions, reveals a study published mid-June 2016 by the John Hopkins University, United States.
Entitled “China Africa Research Initiative (CARI)”, the study is the product of nine years of research conducted by Jyhjong Hwang, Deborah Brautigam and Janet Eom. It shows that out of the $86.9 billion that China lent Africa from 2000 to 2014, Angola received $21.2 billion.
Second oil producer in sub-Saharan Africa, Angola is nipped at the heels by Ethiopia ($12.3 billion), Sudan ($5.8 billion), Kenya ($5.19 billion) and the Democratic Republic of Congo ($4.91 billion).
The study also reveals that out of these loans to Africa, 28% went into transport and infrastructures, 20% in energy, 10% in extractive industries and 8% in the information and telecommunication technologies.
Over the period considered, average Chinese loans to Africa grew significantly from $132 million in 2000 to $1.6 billion in 2003, $5.02 billion in 2007, $9.84 billion in 2011, $26.91 billion in 2013 and $13.59 billion in 2014.

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