Chinese Contractors developing projects in Africa have recently begun seeking out financing from European banks and export credit agencies, a departure from their typical sourcing of finance from China, according to a report by the Global Trade Review.
GTR cited sources in the export finance sector as say ing there are various reasons for the trend, including Chinese official lenders and insurers, such as the Export-Import Bank of China and the China Export & Credit Insurance Corporation (Sinosure), hitting exposure limits in some heavily indebted countries, cheaper offerings from international banks and a desire by some governments to diversify funding sources
