Several countries, including Nigeria, Djibouti, Republic of the Congo, and Egypt, have incurred substantial debt owed to China. Nigeria, with $3.1 billion of its $27.6 billion foreign debt owned by China, faces concerns about potential debt-related challenges due to corruption issues. Djibouti’s strategic port development has resulted in Chinese loans constituting 77 percent of its total debt, while Egypt relies on Chinese financing for its New Administrative Capital project, welcoming Chinese investment as an alternative to American reluctance. The Republic of the Congo owes an estimated $2.5 billion to Chinese lenders, with the precise figure undisclosed.

Source link

Previous articleJapan Announces New Incentive Program For International Production  – Deadline
Next articleWhat Happened To Football Player Craig Cathcart?


Please enter your comment!
Please enter your name here