After nearly two decades of significant bilateral lending, researchers have seen a drastic decline in lending from China’s policy banks. The impact of this retrenchment will be felt all over the world but will be greatest in Africa where the need for infrastructure is highest and the ability to fund lowest. According to the China Africa Research Initiative, the decline in Chinese lending to Africa has been stark: In 2016, Chinese lending to the public sector in Africa was 28 B$. It declined to 9.9 B$ in 2018 and 7 B$ in 2019. Over the last 20 years, China has emerged as the continent’s largest bilateral lender, committing 153 B$ to over 1100 projects.
Source : African Business