In 2023, only about $500 million—or less than 11%—of the $4.61 billion loaned by China to eight African nations was allocated to renewable energy, despite escalating global climate concerns, according to data from Boston University’s Global Development Policy Center. China committed $50 billion for African economic growth at the Forum on China-Africa Cooperation (FOCAC) in September, but the action plan dedicates just one of its 11 points to climate initiatives.
The $50 billion pledge is distributed as $29.5 billion in credits, $11.3 billion in aid, and $9.8 billion in investment, leaving much of the spending to be decided by private investors. These investors tend to prioritize lower-risk, high-return projects, which often do not include climate-focused initiatives. Consequently, only a fraction of the funding is likely to support environmental projects, with most channeled toward infrastructure and trade.
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