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Monday, April 9, 2012

''Africa looks to China for financing''

From Strategic Culture

"Mahama said the Cold War and US influence in Africa almost compelled countries in the region to seek resources for development from the International Monetary Fund and the World Bank.

Ghana's vice-president was speaking ahead of his visit to Beijing on Thursday to sign a $3-billion loan from the China Development Bank.

Considered the largest loan so far to a West African nation, the money is earmarked for major infrastructure development, including a new gas pipeline, fishing harbors, roads and railway lines."

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