State-run development finance is behind 80 per cent of infrastructure funding in Africa, with China heading the list of investors, according to a report.
Despite steady growth in private sector funding in the past decade, the grip of the public sector could tighten further, with the Export-Import Bank of China having pledged $1tn to Africa in the coming decade, according to analysis by Baker & McKenzie, a law firm, and the Economist Corporate Network.
The Chinese lender’s pledge, if it materialises, would dwarf the investment flows currently provided by all public and private bodies globally.
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