China’s Africa development fund is set to triple in size to $3 billion, according to China Daily.
The China-Africa Development Fund (CAD) targets investment projects on the African continent, including both industrial and infrastructure enterprises.
Specifically, the fund has been involved in the creation of a glass factory in Ethiopia and a power plant in Ghana. The fund has also been involved in the creation of “trade zones” in Egypt and Nigeria.
Eventually, CAD is to top out at a total of $5 billion.