China spearheads African infrastructure development, says World Bank

China-funded infrastructure projects such as building hydropower facilities and railways are sprouting all over Africa, according to a new report by the World Bank. The booming Asian country currently has financing agreements with more than 35 nations in the region, including Nigeria, Angola, Sudan and Ethiopia, which hosts 70 percent of its investments. The bank suggested that China-Africa ties would be beneficial to both as Africa requires funding to improve infrastructure while China needs the region’s oil to fuel its flourishing economy and it has a robust construction industry. (World Bank: China boosting African infrastructure - The Associated Press, Jul. 10, 2008)

About the author

Join the Discussion