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Get latest articles and stories on World at LatestLY. The head of the African Development Bank is calling for an end to loans given in exchange for the continent's rich supplies of oil or critical minerals used in smartphones and electric car batteries, deals that have helped China gain control over mineral mining in places like Congo and have left some African countries in financial crisis. World News | African Development Bank Chief Criticizes Opaque Loans Tied to Africa's Natural Resources.

He highlighted the uneven nature of the negotiations, with lenders typically holding the upper hand and dictating terms to cash-strapped African nations.

Lagos, NIGERIA (AP) — The head of the African Development Bank is calling for an end to loans given in exchange for the continent’s rich supplies of oil or critical minerals used in smartphones and electric car batteries, deals that have helped China gain control over mineral mining in places like Congo and have left […]

The head of the African Development Bank is calling for an end to loans given in exchange for the continent's rich supplies of oil or critical minerals used in smartphones and electric car batteries, deals that have helped China gain control over mineral mining in places like Congo and have left some African countries in financial crisis. “They are just bad, first and foremost, because you can’t price the assets properly,” Akinwumi Adesina said in an interview with The Associated Press in Lagos, Nigeria, last week.

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