{{China Development Bank (CDB) has invested at least US$2.4bn in African infrastructure and commercial projects.}}<\/p>\n
The projects will be estimated to bring at least a further US$10bn of Chinese investments into Africa.<\/p>\n
The bank’s president Zheng Zhijie revealed this saying that the China-Africa Development Fund has already financed mineral resources, machinery manufacturing, power generation, agricultural and infrastructure projects in more than 30 African countries.<\/p>\n
The fund, a wholly-owned subsidiary of CDB and an Africa-dedicated facility, was set up in 2007.<\/p>\n
With stronger bilateral ties, Kenya has become an important partner in East Africa for China, Zheng said.<\/p>\n
Zheng revealed that CDB\u2019s outstanding loans to Africa have already totalled US$18.9bn, of which US$250mn have been for infrastructure projects, the financial sector and small businesses in Kenya. <\/p>\n
He claimed that the bank\u2019s funds have immensely helped spread the use of digital television in Kenya. <\/p>\n
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