The list of countries with multibillion-dollar, Chinese-backed
projects is growing longer, with Mozambique the latest country
to receive a golden handshake. In late May, China Exim Bank announced
US$2.3 billion in loans for the Mphanda Nkuwa dam on the Zambezi
River, a project that will be carried out by Brazilian
and Mozambican interests rather than Chinese. The project is led
by the Brazilian construction company Camargo Corrêa,
Electricidade de Moçambique and Energia Capital.
China Exim Bank decided to take part after attempts to involve
the European Investment Bank and the World Bank proved unsuccessful....
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