As initially reported by Semafor, while much of the narrative around Chinese investment in Africa over the past two decades has emphasized infrastructure such as roads and bridges, the largest chunk of loans made by Chinese institutions to African governments and entities has been in energy. That focus on energy breaks out into investments in electrification infrastructure and investments in extraction for both carbon-based fuels and green transition minerals, explains a report from Boston University’s Global Development Policy Center. Energy accounted for 35% of loans in the period from 2000 to 2022 while transport accounted for around 29%. China’s two primary development finance institutions, the Export-Import Bank of China and the China Development Bank, were the dominant lenders with 79% of all loans reaching $134 billion in sovereign loans to 47 African countries and several regional institutions.