Namibia rakes in N$7.3 billion in Chinese loans
…as loans to Africa hit downward spiral
By Hilary Mare
NAMIBIA is among countries that received no loans from China in the 2019 financial year, a year in which new data shows that Chinese lending to Africa dropped 30 percent to N$105 billion, down from N$148.5 billion in 2018.
New data shows that since 2004, government has enjoyed loans in excess of N$7 billion from Chinese policy and commercial banks.
Data revealed on the Chinese Loans to Africa (CLA) Database, an interactive data project started by the China Africa Research Initiative at Johns Hopkins University’s School of Advanced International Studies (SAIS-CARI) highlights that between 2000 and 2019, Chinese financiers signed 1 141 loan commitments worth US$153 billion (N$2.2 trillion) with African governments and their state owned enterprises.
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