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Funds conundrum

By Wang Chao and Andrew Moody | China Daily | Updated: 2014-04-14 07:12

There is a common perception that all the sub-Saharan African nations are "least developed countries", but there are some exceptions such as Gabon that are prompting Chinese companies to chalk out new business strategies to stay ahead.

Although there remain major inequalities, Gabon now ranks as a middle-income country. As such it is less dependent or rather reluctant to seek external funding for infrastructure projects.

Many Chinese infrastructure companies have found that money is not necessarily the top draw in Gabon, sources say. "Good investment proposals from Chinese companies are welcome in Gabon. But if the companies try to sweeten the offer with low-interest loans from Chinese lenders, then it is very likely that the proposal will be rejected," says Wu Jingchun, economic counselor of the Chinese embassy in Gabon.

Funds conundrum

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