China joined the European Bank for Reconstruction and Development (EBRD) this month. The move will open doors for the China Development Bank to co-finance construction projects and also give Chinese contractors access to the continent, analysts said.
Indonesia sprung a surprise on Jan. 28, suspending a $5.5-billion high-speed-rail project that is being implemented by a Chinese company and financed by the China Development Bank.
Engineering and construction firm executives say the historic climate change pact reached on Dec. 12 in Paris could continue the power sector’s shift away from traditional fossil fuel projects and create new markets in developing countries.
China, which stunned western companies by expanding its footprint in Africa in the past decade to fuel its economic boom, is curtailing that construction investment as its economy cools off.