Chinese investors haven’t yet disbursed US$1.8 billion that the Nigerian National Petroleum Corporation (NNPC) was expecting so it could proceed with the construction of a US$2.8-billion natural gas pipeline, Reuters reported on Friday, citing three sources with knowledge of the issue. Despite the fact that an NNPC spokesman told Reuters there was no concern, the delay in the financing could be a sign of a further reduction of Chinese lending for energy and infrastructure projects in Africa, which was booming in the decade before the pandemic.
…China Is Growing Increasingly Reluctant To Fund African Energy Projects
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