China digs deeper into Africa via banking

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China digs deeper into Africa via banking

The Eastern and Southern African Trade and Development Bank (PTA Bank) has approved China’s request to increase its share in the bank and also opens the opportunity for other nations to join PTA Bank.  The decision was made at the end of the bank's 29th yearly general meeting in the Ethiopian capital of Addis Ababa. China was the first non-African member of PTA Bank, though Brazil, South Korea, Malaysia, and Belarus are now in the process of joining.

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