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Monday, 15 February 2016

Financial support from China to Portuguese-speaking Africa totals US$22.6 billion

Financial support from China to African countries where Portuguese is the official language (PALOP) amounted to S$22.6 billion between 2000 and 2014, half of which was directed to Angola, according to Chinese official figures cited in a study published recently. The study entitled “China and Japan’s foreign aid policies in elation to Lusophone Africa,” by academic researcher Pedro Amakasu Raposo, compares the development agendas of the two Asian powers in relation to the PALOP, considering they have become “more and more alike” with China “a serious contender.” The figures presented by the researcher showed that during the period under review, official development assistance from China to Portuguese-speaking African countries was nearly US$11 billion, and Mozambique was the biggest beneficiary, with US$6.5 billion, followed by Angola (US$3.9 billion), Cabo Verde (Cape Verde – US$439 million) and Guinea-Bissau (US$126 million). Other official financial flows, including official investment and foreign direct investment, amounting to about US$11.6 billion, of which US$9.8 billion was channelled to Angola, US$1.6 billion to Mozambique and US$130 million to Guinea-Bissau.

Resource: MacauHub