Posted on 19/02/2013


China News Stories

China Foreign Aid AfricaThere is a new kid in town and its name is the People’s Republic of China. Its entrance into the rich and elite foreign aid club has redefined the foundations of foreign aid. At last summer’s Conference of the Forum on Africa China Cooperation, the mighty dragon has pledged $20 billion USD over the next three years for infrastructure and agricultural development.

China’s entrance into Africa is at the forefront in the rapid shift taking place in global giving. The four BRICs (Brazil, Russia, India and China) are giving to countries who have traditionally relied on the western OECD-DAC donors, the so called “old guard” of foreign aid. China is the largest of the new emerging donors and gives out more aid than the World Bank. The BRIC countries are reshaping the foreign aid landscape and bringing new opportunities and challenges to developing nations. the OECD-DAC countries…

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