African countries are foregoing Western investment because of the number of strings attached. Chinese loans are pretty straightforward: here's some money, here's a (very) competitive interest rate, and here's how the infrastructure will be kept alive even if the country runs out of tax revenue to fund it. Critically, the project's operation isn't hindered by financial mismanagement and can keep delivering economic benefits to the region.

[–] fedfedfedd@lemmy.ml 0 points 1 year ago (1 children)

African countries are foregoing Western investment because of the number of strings attached

What strings?

here’s a (very) competitive interest rate

IMF loans are cheaper. Every person with two braincells will realize corrupt officials will take the chinese loans with higher interest rates because of the bribes. A 90 year maintenance contract is nonsense and you cant defend it.

[–] gary_host_laptop@lemmy.ml 0 points 1 year ago

https://www.youtube.com/watch?v=8fGcf3GODKE

[–] yogthos@lemmy.ml -1 points 1 year ago

Indeed, and China also does a lot of loan forgiveness because they want to establish long term mutually beneficial relationships as opposed to just strip mine these countries the way the west does.