Follow CAP on Social Media

Listen to the CAP Podcast

Who is the Bigger Official Lender in Africa: China or the World Bank?

Outside of the World Bank headquarters in Washington, D.C. Daniel SLIM / AFP

In an oft-cited 2019 working paper titled “China’s Overseas Lending,” we read that China has become the world’s “largest official creditor, easily surpassing the IMF or the World Bank…” Is this true in Africa (All references to Africa in this article refer to all of Africa, including North Africa, rather than only sub-Saharan Africa)? It depends on how you define “official”. Available evidence shows that while credits from all Chinese financiers, including commercial banks and corporations, to African governments and state-owned enterprises, exceed those of the World Bank, the World Bank is still the largest official creditor in Africa.

The World Bank confirms that China is the world’s largest bilateral officialcreditor, meaning that it is the largest single creditor country. The Paris Club group of bilateral lenders comprising mostly developed countries from the global North were once large bilateral lenders in Africa, but by 2017 debt to the Paris Club amounted to less than 5% of external debt in Africa. Other bilateral lenders include Russia, India and Turkey, but their overseas lending programs are smaller than China’s.

  • Get a daily email packed with the latest China-Africa news and analysis.
  • Read exclusive insights on the key trends shaping China-Africa relations.
  • Full access to the News Feed that provides daily updates on Chinese engagement in Africa and throughout the Global South.

China, Africa and the Global South... find out what’s happening.

Subscribe today for unlimited access.

What is The China-Africa Project?

Independent

The CAP is passionately independent, non-partisan and does not advocate for any country, company or culture.

News

A carefully curated selection of the day’s most important China-Africa stories. Updated 24 hours a day by human editors. No bots, no algorithms.

Analysis

Diverse, often unconventional insights from scholars, analysts, journalist and a variety of stakeholders in the China-Africa discourse.

Networking

A unique professional network of China-Africa scholars, analysts, journalists and other practioners from around the world.