Africa leads in Belt and Road Initiative investment, attracting $33.5 billion in first half of year
Africa maintained its position as the primary recipient of Belt and Road Initiative BRI investment in the first half of the year, securing $33.5 billion in Chinese investment. This figure represents a 254 percent increase compared to the same period last year, driven by growth in manufacturing and energy projects. A report by the Green Finance & Development Center at Fudan University and the University of Queensland Business School highlighted increased investment in manufacturing, energy, and infrastructure as key factors. Ethiopia experienced the most significant growth in BRI engagement globally, attracting over $18.9 billion. This includes the world's largest Chinese energy investment, with green energy development agreements exceeding $14 billion between the Ethiopian Investment Commission and Ming Yang Smart Energy Group. This project aims to facilitate Ethiopia's green transformation, with an initial phase involving a $7.5 billion 8.4-gigawatt renewable energy project wind and solar. A second phase will see Ming Yang Smart Energy Group invest an additional $7.3 billion in green ammonia production and manufacturing of electric transmission and wind turbine equipment. This investment is expected to accelerate industrial development, create jobs, facilitate technology transfer, and boost foreign exchange earnings. Globally, BRI engagement reached its highest level for any first half since its inception, totaling $49.8 billion in investment and $76.5 billion in constructio
