Chinese Regime Overtakes World Bank as Africa’s Largest Lender

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The Chinese regime is outstripping the World Bank as the largest lender to Africa.The BBC reported the World Bank offered a total of $11.4 billion dollars in loans to African countries last year.

But the Chinese regime gave more--providing nearly 10 billion just to Ghana and billions more to a host of other countries. In some places, like Zambia and Camaroon, the Chinese regime gave 10 times as much as the World Bank--and without any conditions like government transparency or anti-corruption measures.

And Chinese currency is replacing World Bank dollars--becoming the new currency for investment in credit-poor African countries.