The People’s Republic of China joined the AfDB and the ADF in 1985. China contributes strongly to Africa’s development and poverty reduction efforts. Its assistance to Africa is provided through the People’s Bank of China, the China Development Bank, the Export-Import Bank of China and China-Africa Development Fund.
China is keen to further expand investments in African countries in support of their economic growth and development. Trade between China and Africa grew by 20 per cent in 2012 to reach US $26.4 billion. At the end of 2012, Chinese investments in Africa totalled US $20 billion.
With an initial contribution of US $14.59 million to the AfDB, China has taken part in eight replenishments of the ADF and pledged a total contribution of US $486 million, US $122 million of which was for the ADF XI (2008-2010). China contributed UA 83,921,666* (US $125,815,361.67) to ADF-XII, which corresponds to a 5 per cent increase from its ADF-XI contribution. Its burden share represents 2.052 per cent of ADF-XII.
In 1996, the Bank and China entered into a technical cooperation agreement (TCA) of US $2 million. A series of technical cooperation activities have been implemented in the areas of the environment, agriculture, water and health and other activities are planned. Knowledge-sharing seminars as well as study tours to China have also been undertaken.
In 2008, the Bank signed Memoranda of Understanding (MoUs) with the Export-Import Bank of China (China Eximbank) and with the China Development Bank (CDB). A MOU was also signed with the Agricultural Bank of China Limited (ABC) in 2011. The MOU’s promote co-financing, knowledge sharing and joint analytical work in the areas of trade finance, private sector, agribusiness and clean energy as well as to promote knowledge sharing and joint analytical work in priority areas. The Bank has also organized a Business Opportunity Seminar in Beijing in June 2009 for Chinese private sector and financial institutions.
The Bank is currently discussing an innovative co-financing mechanism with China to make optimal use of each other’s comparative advantages and financial instruments to foster African development especially in the areas of infrastructure and private sector.
Mr. Hau Sing Tse
Executive Director, China
Tel: (225) 2026 2021
Mr Wenzhong Liu
Tel (225) 2026 2196
Mr Ingwun Jung
Tel (225) 2026 4226