Chinese Role in Major Turkish Canal Project May Be More Likely as Turkish Lenders Express Reluctance

On April 27, senior banking sources in Turkey disclosed to Reuters that Turkish lenders are reluctant to finance the $13 billion Kanal Istanbul waterway project, citing the project’s environmental risks and exorbitant costs. As Beijing has shown consistent interest in both the financing and construction of Kanal Istanbul since its introduction in 2011, the resistance of Turkish banks could push the Erdogan administration toward China. ...

China to Assist with Transition of Power Grids in Africa and Central America to Renewable Energy

On April 12, the state-owned State Grid Corporation of China (SGCC) signed a memorandum of understanding (MoU) with the International Renewable Energy Agency (IRENA), whereby the two entities agreed to cooperate in the transitioning of national and regional power sectors to sustainable energy both in China and in IRENA’s “Clean Energy Corridor” regions abroad. These regions presently include Africa and Central America, aligning with the ...

China to Rehabilitate Major Port in the DRC: Reviving Trade Hub, Enhancing Mineral Export Infrastructure and Renovating Military Outpost

On April 1, state-owned China Gezhouba Group Company (CGGC) signed a $127 million contract with the Democratic Republic of Congo (DRC) to rehabilitate and modernize the Port of Kalemie. Situated on Lake Tanganyika, the port city also serves as the Tanganyika province's capital and connects to other economic centers in the DRC, such as Lubumbashi and Bukavu, via road and rail networks.