The key takeway from the World Economic Forum on Africa in Nigeria was the revelation by the Chinese Premier that more than half of its Aid will flow to Africa. China will, as always, continue to increase its assistance to Africa in both quantity and quality to the extent of its ability, ensuring that more than half of its foreign aid will go to Africa, He stressed that China will never attach political conditions to its assistance to Africa and will never use its aid programs to interfere in the internal affairs of African countries. That was last week, this week the Premier signed off in Kenya the formal agreements to built the East Africa railway line that will connect Kenya, Uganda, Rwanda, Burundi and South Sudan. China will finance 90% of the 3.2 billion US$ project with Kenya financing the difference. As the saying goes-Go East Young Man! What we need to do as Africans is to start ensuring that such deals distributional impacts are more benign to African firms and labour as currently they are not. Somewhere given the Chinese appetite for always finding a common ground, we can extract such concessions.
Posted on: Tue, 13 May 2014 12:48:27 +0000
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