Africa's Development - New Chinese Funding Window Ignites Competition

By Godlove Bainkong

Beijing — In less than a year, over 230 agreements worth some 50 billion dollars already concluded within the 60 billion new Sino-African cooperation plan.

If the enthusiasm with which Africa is showing the new funding window opened to her by the People's Republic of China is translated into concrete execution of projects on the ground, the continent's socio-economic development could receive fresh impetus in the next three years. Less than a year since China's President Xi Jinping announced a new Sino-African Cooperation plan with 60 billion US dollars earmarked for projects, African countries are currently scrambling for the funding with each striving to make the best of the opportunity.