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Reuters

China has agreed to extend a loan to Botswana for rail and road infrastructure as well as writing off some debt, Botswana’s President Mokgweetsi Masisi said on Saturday.
Speaking at the airport on his return from this week’s China-Africa forum in Beijing, Masisi said Botswana had made a pitch to China and “I am happy to report that, judging from what President Xi Jinping told me, we were successful”.
In addition to the loan and a debt cancellation of 80 million pula, China has also offered a 340 million pula (US$31 million) grant, he said.

“We got a little bit more than just the loan,” he told reporters.
He did not disclose the size of the loan, but last week the ministry of finance said Botswana was seeking a 12 billion pula (US$1.09 billion) loan for transport infrastructure.
Why China’s investment in Africa might not be so smart
Botswana is the world’s leading producer of diamonds by value. Chinese companies, mostly state owned, are largely into construction in Botswana such as dams and roads.


The bulk of the loan is expected to fund the Mosetse-Kazungula railway line project, which will link the central part of Botswana to the tourism hub in the northwest.
The railway line will also promote regional trade as it will connect Botswana to Zambia via the Kazungula Bridge, currently under construction.

China’s Xi offered another US$60 billion in financing for Africa on Monday and wrote off some debt for poorer African nations, while warning against funds going toward “vanity projects”.
Speaking at the opening of the forum, Xi said the financing would include US$15 billion in aid, interest-free loans and concessional loans, a US$20 billion credit line, a US$10 billion special fund for China-Africa development, and a US$5 billion special fund for imports from Africa.


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Africa

Botswana says China agreed to extend loan and cancel debt

Botswana’s President Mokgweetsi Masisi did not disclose the size of the loan, but last week the ministry of finance said Botswana was seeking (US$1 billion) for transport infrastructure

(180831) -- BEIJING, Aug. 31, 2018 (Xinhua) -- Botswana's President Mokgweetsi Masisi receives interview in Beijing, capital of China, Aug. 31, 2018. Masisi, on a state visit to China, is to attend the 2018 Beijing Summit of the Forum on China-Africa Cooperation (FOCAC). (Xinhua/Zhang Yuwei) (mp)

REFILE - CORRECTING OBJECT NAME China's President Xi Jinping (L) and President of Botswana Mokgweetsi Masisi review the Chinese People's Liberation Army honor guard during the welcome ceremony at the Great Hall of the People in Beijing, China, 31 August 2018. Roman Pilipey/Pool via Reuters

Chinese President Xi Jinping, left, with Botswana's President Mokgweetsi Masisi at a welcoming ceremony before their talks at the Great Hall of the People in Beijing last month. Photo: Xinhua

Chinese ‘will have to manage risks’ as investors pour more cash into Africa

African Development Bank chief denies nations have been pushed into a debt trap but says they should take ownership of deals

Akinwumi Adesina, president of the African Development Bank, said projects should be designed to ensure a fair deal for everyone. Photo: Xinhua

China shakes up old order of Western donors with surge in aid to Africa

Xi Jinping with South African President Cyril Ramaphosa (right) and Senegalese President Macky Sall (behind) at the forum in Beijing on Tuesday. Photo: Reuters

A security guard patrols during launch of the first batch of Standard Gauge Railway freight locomotives at the port in Mombasa on January 11, 2017. The locomotives are expected to boost the capacity of Kenya's railway transportation, assisting in the realization of Kenya's economic development goals. The SGR system, the biggest infrastructure project in Kenya since independence, is being built by the state-owned China Road and Bridge Corporation (CRBC), with plans to connect Kenya, Uganda, Rwanda and South Sudan to the port of Mombasa to enable faster socio-economic transformation of the East and Central Africa economies. The first phase which will connect the coastal port city of Mombasa to Kenya's capital Nairobi is expected to be operational by June 1, 2017. / AFP PHOTO / ANDREW NGEA

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Internet censors shut down debate while state media talks up the tangible efforts of its economic commitment to African nations

This general wide-angle view shows delegates as China's President Xi Jinping speaks during the Forum On China-Africa Cooperation - Round Table Conference at the Great Hall of the People in Beijing on September 4, 2018. (Photo by Lintao Zhang / POOL / AFP)

China's President Xi Jinping at the opening ceremony of the Forum on China-Africa Cooperation in the Great Hall of the People, Beijing. Photo: Reuters

‘No political strings attached’: China doubles financial pledges to Africa and vows to waive debt for poorest nations

Chinese President Xi Jinping (front centre) announced US$60 billion in financial aid and investment pledges to Africa on Monday. Photo: EPA-EFE

Peacekeeper troops from China deployed by the United Nations Mission in South Sudan (UNMISS), patrol on foot outside the premises of the UN Protection of Civilians (PoC) site in Juba, South Sudan, on October 4, 2016. According to the UN, due to the increase of sexual violence outside the PoC, UNMISS has intensified its patrols in and around the protection sites, as well as in the wider Juba city area, sometimes arranging special escorts for women and young girls. / AFP PHOTO / ALBERT GONZALEZ FARRAN [10SEPTEMBER2017 FIGURED OUT FEATURES]

South Africa's President Cyril Ramaphosa speaks during the opening ceremony of the Forum on China-Africa Cooperation at the Great Hall of the People in Beijing on September 3, 2018. - President Xi Jinping told African leaders on September 3 that China's investments on the continent have "no political strings attached", pledging $60 billion in new development financing, even as Beijing is increasingly criticised over its debt-heavy projects abroad. (Photo by MADOKA IKEGAMI / POOL / AFP)

(170113) -- MOMBASA, Jan. 13, 2017(Xinhua)-- Workers wait to unload the first batch of locomotives of the Standard Gauge Railway at Mombasa Port in Mombasa, Kenya, Jan. 9, 2017. Being East Africa's largest port, Mombasa port serves as an important logistic hub in the region, transporting containers to Tanzania, Uganda, South Sudan, Rwanda, Burundi and etc. China helped with its 19th berth expansion project which significantly improved the port's operational efficiency. Together with the under constructing Standard Gauge Railway which will connect Mombasa Port with Kenya's capital Nairobi, the port will help develop the economy of this country as well as the whole East Africa. (Xinhua/Sun Ruibo) (lrz)

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Africa has a lot of resources. China sees it as the future. The two economies can complement each other. Photo: Xinhua

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Botswana’s President Mokgweetsi Masisi did not disclose the size of the loan, but last week the ministry of finance said Botswana was seeking (US$1 billion) for transport infrastructure
