China Development Bank (CDB), the country's largest policy lender, has invested at least USD 2.4 billion in African infrastructure and commercial projects, the bank's president Zheng Zhijie said.
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The China-Africa Development Fund has financed mineral resources, machinery manufacturing, power generation, agricultural and infrastructure projects in more than 30 African countries, Zheng told a China-Kenya investment forum.
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The fund, a wholly-owned subsidiary of CDB and an Africa-dedicated fund, was set up in 2007.
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The projects are estimated to bring at least 10 billion U.S. dollars of Chinese investment to Africa.
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With stronger bilateral ties, Kenya has become an important partner in east Africa for China, he said.
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CDB's outstanding loans to Africa have totaled 18.9 billion U.S. dollars, of which USD 250 million have been for infrastructure projects, the financial sector and small businesses in Kenya.
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Zheng said the bank's fund has helped spread the use of digital television in Kenya. It is possibly looking to fund hydro-power, thermal-power and development park projects, as well as opening a representative office in Kenya in the futureÂ