One of China's international program is the Belt and Road Initiative (BRI). Besides the BRI, China has other programs that reflects China's broader strategy of international development cooperation and economic engagement.
Asian Infrastructure Investment Bank (AIIB): This initiative aims to support the building of infrastructure in the Asia-Pacific region and beyond, promoting economic development and regional cooperation. BRICS New Development Bank: Established by the BRICS countries (Brazil, Russia, India, China, and South Africa), this bank aims to support public or private projects through loans, guarantees, equity participation, and other financial instruments. Forum on China–Africa Cooperation (FOCAC): This is the primary institutional vehicle for China's strategic engagement with Sub-Saharan Africa, focusing on economic cooperation and development. China EximBank and China Development Bank (CDB): These state policy banks play key roles in providing large resource-backed loans and project financing, supporting China's 'going out' policy by assisting Chinese companies in developing offshore businesses and foreign subsidiaries. As of August 2023, 215 cooperation documents have been signed with 155 countries and 32 international organisations. The BRI, which launched in September 2013, is General Secretary of the Chinese Communist Party and Chinese President Xi Jinping's "grand political-economic project". It affects three-quarters of the known energy reserves in the world.
Africa As of August 2022, China's official Belt and Road website lists 52 African countries who have signed onto an agreement or understanding with the One Belt One Road initiative. Africa is considered a key part of China's One Belt One Road efforts, due to its potential for rails, roads and energy. Many African countries are also in need of better infrastructure, which is still seen as a major barrier to development in the region. In 2020, only 43 percent of Africans had access to electricity, 48 percent had access to paved roads, and 6 percent of agricultural land was irrigated. China began many of its investment activities in the East Africa region, given its access to ports and need for rails and roads, but initiatives have since branched out to numerous projects across the continent. Major road infrastructure projects stretch to south and north Africa, such as Mozambique's Maputo–Katembe bridge and Algeria's Cherchell Ring Expressway Project. Belt and Road projects in Africa focus generally on transport and power but include variation within, from international rail and expressways, seaports, hydropower to carbon-based power, water supply and sanitation, and many other programs. Subsequently, China's investments in the region have also risen significantly since the beginning of 2000, with total spending from the Chinese government and companies reaching US$23 billion in 2020. China is now the largest funder of infrastructure projects in Africa, financially backing around a fifth of all projects and constructing a third of them. A McKinsey & Company report estimates that more than 10,000 Chinese-owned firms operate in Africa, with about 90 percent privately owned. Numerous studies have shown that Chinese investment has had a positive effect on Africa, though growing debt has led to some states slightly pulling back on their plans. According to the Johns Hopkins China Africa Research Initiative, East African countries alone have borrowed more than $29 billion from China for various projects. Some countries like Djibouti, Kenya and Uganda have issued warnings over the ballooning debt, following the case of the Magampura Mahinda Rajapaksa Port transfer in Sri Lanka. To build many of the construction projects, China has sent a large number of Chinese workers to developing countries. However, this has become a point of controversy especially in Africa, as high unemployment rates continue to hurt the large young population. Aside from economic activities, China has also shaped the Belt and Road as an opportunity to build cultural ties between Africa and China.
Algeria China is now developing Algeria's El Hamdania Central Port, Algeria's largest and first deep-water port and the second deep-water port in Africa. China also helped complete the 750-mile East-West Highway (Algeria) that connects Algeria with neighboring Morocco and Tunisia, and about 1,000 Chinese companies operate in Algeria, their way eased by the wavier of the "51/49" requirement.
Djibouti In total, the Export-Import Bank of China has lent approximately US$1 billion to Djibouti, funding nearly 40 percent of Djibouti's substantial infrastructure and investment projects. Due to the Belt and Road initiative, Ethiopia and Djibouti are now bridged through the Addis Ababa–Djibouti Railway and Ethiopia-Djibouti Water Pipeline. China's economic relations with Djibouti have extended to increased military involvement in the Horn of Africa region. Among the numerous Djibouti infrastructure projects, China built a military base and has deployed ships from its South Sea Fleet. Djibouti's base is a sign of China's growing naval presence across the globe. Meanwhile, China has argued that its anti-piracy missions from the Djibouti base has increased its capacity to support One Belt One Road projects.
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