By Andrea Shalal

WASHINGTON (Reuters). During 2007-2020, China’s banks for development provided financing of $23 billion to finance infrastructure projects in sub Saharan Africa. This is more than twice the total amount lent in such countries by banks from the United States, Germany and Japan, according to a study.

According to the Center for Global Development, a review of 535 deals in public-private infrastructure in that region over those years revealed that China’s investments were far more than those made by other countries.

Nancy Lee (lead author and senior policy fellow at The Center) stated that overall funding for sub-Saharan Africa’s projects remained at $9 billion. This is far below the amount the region requires for roads, dams, and bridges.

There is much criticism directed at China, she stated. But if Western governments wish to improve productive and long-term investments, they should set up their own development banks. They also need to press multilateral development banks for priority in making these investments.

The report revealed that between 2007 and 2020 China Exim Bank, and China Development Bank, provided financing of $23 billion. However, all major development finance institutions together provided $9.1billion.

The report noted that $1.9 billion was lent by the U.S. International Development Finance Corp to support infrastructure development in the region, less than a tenth the amount provided by China.

The report revealed that multilateral development banks such as the World Bank averaged $1.4 billion annually for infrastructure projects in sub-Saharan Africa between 2016 and 2020.

China’s loan to Africa from China has been under intense scrutiny recently for its lack of transparency as well as the use of collateralized loans. World Bank economists and Economists warn that there are many countries of low income who may find themselves in serious debt.

Lee stated that despite much rhetoric, Western countries are slow to increase investment.

U.S. President Joe Biden’s July administration unveiled an initiative to strengthen business relationships between U.S. and African companies. It focuses on clean energy, agriculture, and transport infrastructure. However, the private sector has been reluctant to commit funds because of its continuing review on trade policies.

There could be more information soon.

Last week, a top U.S. trade official stated that Washington has been engaged in strong talks with Kenya in its efforts to increase trade investments on Africa. He would add more in the coming weeks.