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With Smaller, Targeted Loans, China Deploys New Development Finance Strategy in Africa

The announcement board of a new 220kv electricity substation in the DR Congo capital of Kinshasa, an example of the smaller-scale projects now financed by the China Exim Bank.

The huge state-owned power construction company China Three Gorges Corporation (CTG) signed a small $31.22 million contract last week to upgrade a pair of substations outside of the Ghanaian capital Accra. For a company as large as CTG a deal like this is financially insignificant, but it highlights a dramatic shift in Chinese development finance in Africa and other developing regions.

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