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China-Backed Development Bank Approves First Project in Sub-Saharan Africa

The China-based Asian Infrastructure Investment Bank (AIIB) approved a $100 million loan (Reuters) to Rwanda to finance COVID-19 recovery measures.

The China-based Asian Infrastructure Investment Bank (AIIB) approved a $100 million loan (Reuters) to Rwanda to finance COVID-19 recovery measures. The World Bank will cofinance the loan, which is the AIIB’s first to sub-Saharan Africa.

South Africa: President Cyril Ramaphosa will today visit KwaZulu-Natal Province (AFP), the epicenter of days of unrest in which at least 117 have been killed. South Africa’s government deployed twenty-five thousand troops in response to protests and looting.

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