U.S. Wants 'Race To The Top' On Africa Infrastructure Amid China Competition, Says Blinken

U.S. Wants 'Race To The Top' On Africa Infrastructure Amid China Competition, Says Blinken

Andrew H. Sweet

Blinken said investment from China in Africa was, in principle, a good thing, but they should not burden countries with "tremendous debt that they cannot repay." He added that workers' rights, environmental protection, and safeguards against corruption should also be in place.

Developed countries in the G7 would invest in Africa as part of the so-called Build Back Better World program, he added. Blinken signed a $2.17 billion development assistance program with Nigeria on Thursday and said Washington would also continue to invest in security in Nigeria.

China is one of the major bilateral lenders to Nigeria and has provided financing for infrastructure development such as roads, rail, and gas pipelines. On its website, Nigeria's public debt office says that Chinese debt stood at $3.121 billion or 3.94% of the country's total public debt stock as of March 2020.

Read the original story here.

Comments

Sign in or become a tippinsights member to join the conversation.
Just enter your email below to get a log in link.