According to a study by the Center for Global Development, China’s two largest overseas development banks invested $23 billion in infrastructure projects on the continent between 2007 and 2020. This is $8 billion higher than the combined contributions of the other top eight lenders, which include the World Bank, African Development Bank, and US and European development institutions.

During that time, total lending from all parties has remained stable at around $9 billion per year, less than a tenth of what the continent is anticipated to require to support its rising population and address pressing health, development, and energy issues. According to the CGD analysis, Chinese infrastructure investment has benefited African economies and sets a standard for the US and other lenders to strive for.

The report also finds that between all public lenders, renewable energy projects have attracted more investment than other sectors, including fossil fuels.

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