africa

Africa at a Fork in the Road: Taking Off or Disappointment Once Again?
Endnotes
1
All figures for Africa represent the entire continent.
2
China Statistical Yearbook (2012).
3
According to the State Council, as reported in China’s White Paper on Foreign Aid (April 2011),
“China’s financial resources for foreign aid have increased rapidly, averaging 29.4 percent from 2004
to 2009.” Budget expenditures rose by 17 percent during this period, so the rest of the increase
comes from China Eximbank’s concessional loans.
4
“Government backs energy, mining investment in Africa,” China Daily, April 11, 2013. It is not clear
whether this figure referred to disbursements or commitments.
5
The first FOCAC saw a pledge of US$3 billion in concessional loans and US$2 billion in preferential
export credits for 2007-09. The second FOCAC included a pledge of US$10 billion in “preferential”
loans for 2010-12. The third FOCAC offered a pledge of US$20 billion in “loans” (2013-15) with no
mention of them being preferential or concessional. During his May 2014 visit to Africa, Chinese
premier Li Keqiang pledged an additional US$10 billion in loans, without specifying the time period
or the terms.
6
People’s Daily, 17 November 2010.
7
Ai-Chu Hsieh, “Chinese bonds bought in Hong Kong bought by foreign governments,” Want China
Times, 2012. http://www.wantchinatimes.com/news-subclass-cnt.aspx?cid=1203&MainCatID=12
&id=20120804000023 [accessed July 8, 2013].
8
Current-year figures are simply added together in this estimate, in reflection of Chinese practice.
Due to the difficulty of obtaining data, these figures mix disbursements and commitments and should
be regarded as rough approximations.
9
http://gbk.eads.usaidallnet.gov/data/fast-facts.html
10
As of June 30, 2012. See http://siteresources.worldbank.org/EXTANNREP2012/Resources/8784408-
1346247445238/8817772-1347490494640/3.1_Africa.pdf
11
“Shark Finning in Decline in Far East,” The Guardian, January 11, 2014.
12
“China, Africa forge farming ties,” China Daily, August 12, 2010.
13
Ministry of Agriculture, “Twelfth Five-Year Plan (2011-15),” p. 7.
14
Export sellers’ credits, export buyers’ credits, and loan guarantees. Source: Eximbank annual reports.
15
“Government backs energy, mining investment in Africa,” China Daily, April 11, 2013.
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