China's loans to poor countries are not sustainable

While China has invested heavily in African infrastructure, concerns are raised about the ability of countries to repay their loans [GETTY]

Discussions on debts that poor countries owe to China to say that they are not sustainable.

Ray Washburne, chief executive of Overseas Private Investment Corporation (OPIC) told Reuters on Monday that huge projects are going ahead. infrastructure financed by these debts The infrastructure to which Washburne referred is part of a strategy called 'Belt and Road' which aims to build an infrastructure network connecting China by land and sea to the Southeast Asia, Central Asia and the Middle East, Europe and Africa.

However, the representative of OPIC says that this initiative could be a trap for many n poor people

"Just look at any project in these countries and they overload the country. size, "he said." We are trying to make countries realize that they are indebted to the Chinese. "

Mr. Washburne's warning comes at a time when China has already taken control of a major port in Sri Lanka after the country failed

The New York Times reported in 2017 that Sri Lanka owed more than $ 8 billion to Chinese companies controlled by the country.

Concerns are raised about the fact that the strategic port of the small nation of Djibouti At the beginning of the year, former US diplomat Rex Tillerson observed that the economic development plan China's dependence on Africa was fueling dependency and could jeopardize democratic growth on the continent

the country's investment, particularly in Africa, in projects ranging from road and rail infrastructure to urban areas. Energy and water. 19659004] In Kenya, for example, China is helping the country to build a mod a normal gauge railway project whose first phase is already complete. The construction of the second phase has already begun while environmentalists are opposed to the rail crossing a wildlife park.

In Ethiopia, China participates in the construction of several industrial parks to transform the country into a garment manufacturing center

The Hawbada Industrial Park, for example, was successful in less than one year. a year, attracting various world clbad textile and clothing companies to the East African country.

The Industrial Zone has so far hosted 18 companies that have already started their operations inside the park. Six of them are currently exporting their products to the international market.

At the beginning of last year, the President of Nigeria requested the authorization of legislators to borrow nearly $ 6 billion from the Export-Import Bank of China for railway projects. boosting a recession-hit economy by investing in large infrastructure projects

Nigeria is also planning to build a $ 5.8 billion hydroelectric power plant in the eastern Mambila region, with capacity for 3,050 megawatts. start of work on the Julius Nyerere Leadership College

A liquid telecom ink contract to build a Cape Town fiber optic network in Cairo