China's lending to Africa hits a Low, study shows

Kenyans watch the SGR cargo train as it leaves Mombasa for Nairobi, May 30, 2017. The project was a $3.3 billion investment backed by China. [AP Photo]

As China marks the 10th anniversary of the launch of its global infrastructure project, the Belt and Road Initiative (BRI), new data show lending to Africa has fallen to its lowest level in almost two decades.

A paper released this week by researchers at Boston University's Global China Initiative said the pandemic, domestic economic woes, a policy shift and concerns about African debt were among the reasons lending in 2021 and 2022 dropped below $2 billion for the first time since the inception of the BRI.