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The latest China-Africa forum indicates big, direct cash flows from Beijing are a thing of the past, with ‘innovative financing’ models now in focus. Criticism over infrastructure debt and the need to cut defaults, as President Xi Jinping consolidates control at home, may be factors at play, observers say
China’s funding model for the Belt and Road Initiative in Africa is changing, as the worsened debt situation for many countries due to the coronavirus pandemic prompts Beijing to explore “innovative ways of financing”.
