East African leaders return with billions in funding

By The EastAfrican
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East African governments went to China with great expectations of funding for their mega-infrastructure projects, and returned with a share of the $60 billion pie given to Africa.

Rwanda, represented at the Forum on China–Africa Cooperation (Focac) by President Paul Kagame, signed a memorandum of understanding with the China-Africa Development Fund (CAD) to accelerate joint ventures between Rwandan and Chinese investors.

The value of the agreement under this deal is still unknown but the Development Fund’s basket is worth $10 billion aimed at facilitating foreign direct investments from China to Africa.

According to Emmanuel Hategeka, chief operating officer of the Rwanda Development Board (RDB), the fund will “accelerate matching opportunities between…

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