https://sputnikglobe.com/20221213/china-rejects-africa-debt-trap-allegations-calls-for-dropping-geopolitical-games-on-continent-1105412026.html
China Rejects Africa 'Debt Trap' Allegations, Calls for Dropping 'Geopolitical Games' on Continent
China Rejects Africa 'Debt Trap' Allegations, Calls for Dropping 'Geopolitical Games' on Continent
Sputnik International
China dismisses the accusations of creating a "debt trap" for Africa, said Qin Gang, China's ambassador to the US ahead of the US-Africa Summit. Several US officials had deemed the Chinese lending policies in Africa "predatory".
2022-12-13T10:17+0000
2022-12-13T10:17+0000
2022-12-13T10:17+0000
africa
us-africa leaders summit 2022
china
us
qin gang
ambassador
debt
https://cdn1.img.sputnikglobe.com/img/07e5/09/01/1083773243_0:78:1502:923_1920x0_80_0_0_71a1e3b3ef6c3f802b38f3644120aeaf.png
China has dismissed accusations of creating a "debt trap" for Africa, Qin Gang, China's ambassador to the United States, said ahead of the US-Africa Summit. Previously, several US officials deemed Chinese lending policies in Africa "predatory," as cited by the media.According to World Bank President David Malpass, around 60% of developing countries, including those in Africa, are at risk of a debt crisis. Malpass noted that "the amount owed to China is some 66% of the total for the official bilateral creditors."Qin Gang, however, cited a report, according to which African countries owe three times more debt to private Western lenders than to China.The ambassador called for abandoning "geopolitical games" on the continent and to develop international cooperation, including between China and the US, for the benefit of African people.China is Africa's largest direct investor and trading partner. Numerous China-led infrastructure projects are currently underway in multiple African countries. In Tanzania, for instance, over 1,100 Chinese progects with total worth of around $9.8 billion are registered. Recently, China also provided 50 million Yuan ($7.1 million) in debt relief to Rwanda as sign of "healthy bilateral cooperation."According to experts, the US-Africa Summit is part of Washington's efforts to counter Beijing's growing influence in Africa. American officials deny such accusations, claiming that Washington is not asking its African partners to make a choice between the US and China. Last year, US Secretary of State Antony Blinken also said it was time for Africa to be treated as a major player on its own and not as as a subject of geopolitics.
africa
china
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
2022
News
en_EN
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
china africa debt trap, us-africa summit, qin gang, china ambassador in us, debt in africa, us and china in africa
china africa debt trap, us-africa summit, qin gang, china ambassador in us, debt in africa, us and china in africa
China Rejects Africa 'Debt Trap' Allegations, Calls for Dropping 'Geopolitical Games' on Continent
The US-Africa Summit, held in Washington, DC on December 13-15, involves 49 delegations from African countries as well as one from the African Union. The White House earlier announced that the goals of the forum are to strengthen ties between the US and African states in order to advance common priorities.
China has dismissed accusations of creating a "debt trap" for Africa, Qin Gang, China's ambassador to the United States, said ahead of the
US-Africa Summit. Previously, several US officials deemed Chinese lending policies in Africa "predatory," as cited by the media.
"China's investment and financing assistance to Africa is not a trap. It is a benefit," he underlined, noting that thanks to the continent's cooperation with Beijing, "you can see hospitals, highways, airports, stadiums" in Africa.
According to World Bank President David Malpass, around 60% of developing countries, including those in Africa, are
at risk of a debt crisis. Malpass noted that "the amount owed to China is some 66% of the total for the official bilateral creditors."
Qin Gang, however, cited a
report, according to which African countries owe three times more debt to private Western lenders than to China.
The ambassador called for abandoning "geopolitical games" on the continent and to develop international cooperation, including between China and the US, for the benefit of African people.
China is Africa's largest direct investor and trading partner. Numerous China-led infrastructure projects are currently underway in multiple African
countries. In Tanzania, for instance, over 1,100 Chinese progects with total worth of around $9.8 billion are
registered. Recently, China also
provided 50 million Yuan ($7.1 million) in debt relief to Rwanda as sign of "healthy bilateral cooperation."
According to
experts, the US-Africa Summit is part of Washington's efforts to counter Beijing's growing influence in Africa. American officials deny such accusations, claiming that Washington is not asking its African partners to make a choice between the US and China. Last year, US Secretary of State Antony Blinken also said it was time for Africa to be treated as a major player on its own and not as as a subject of geopolitics.
