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<article article-type="research-article" dtd-version="1.3" xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xml:lang="ru"><front><journal-meta><journal-id journal-id-type="publisher-id">centero</journal-id><journal-title-group><journal-title xml:lang="ru">Контуры глобальных трансформаций: политика, экономика, право</journal-title><trans-title-group xml:lang="en"><trans-title>Outlines of global transformations: politics, economics, law</trans-title></trans-title-group></journal-title-group><issn pub-type="ppub">2542-0240</issn><issn pub-type="epub">2587-9324</issn><publisher><publisher-name>Center for Crisis Society Studies</publisher-name></publisher></journal-meta><article-meta><article-id pub-id-type="doi">10.23932/2542-0240-2018-11-5-55-73</article-id><article-id custom-type="elpub" pub-id-type="custom">centero-353</article-id><article-categories><subj-group subj-group-type="heading"><subject>Research Article</subject></subj-group><subj-group subj-group-type="section-heading" xml:lang="ru"><subject>С точки зрения экономики</subject></subj-group><subj-group subj-group-type="section-heading" xml:lang="en"><subject>From the Point of Economics</subject></subj-group></article-categories><title-group><article-title>Китайские инфраструктурные проекты в странах Африки южнее Сахары: кредитное финансирование</article-title><trans-title-group xml:lang="en"><trans-title>Chinese Infrastructure Projects in Sub-Saharan Africa: Credit Financing</trans-title></trans-title-group></title-group><contrib-group><contrib contrib-type="author" corresp="yes"><name-alternatives><name name-style="eastern" xml:lang="ru"><surname>Гемуева</surname><given-names>К. А.</given-names></name><name name-style="western" xml:lang="en"><surname>Gemueva</surname><given-names>K. A.</given-names></name></name-alternatives><bio xml:lang="ru"><p>младший научный сотрудник</p><p>117997, Москва, Профсоюзная ул., д. 23</p><p> </p></bio><bio xml:lang="en"><p>Junior Researcher Fellow</p><p>23, Profsoyuznaya St., Moscow, 117997, Russian Federation</p></bio><email xlink:type="simple">krina07@mail.ru</email><xref ref-type="aff" rid="aff-1"/></contrib></contrib-group><aff-alternatives id="aff-1"><aff xml:lang="ru"><institution>Национальный исследовательский институт мировой экономики и международных отношений им. Е.М. Примакова РАН</institution><country>Россия</country></aff><aff xml:lang="en"><institution>Primakov National Research Institute of World Economy and International Relations of the Russian Academy of Sciences</institution><country>Russian Federation</country></aff></aff-alternatives><pub-date pub-type="collection"><year>2018</year></pub-date><pub-date pub-type="epub"><day>30</day><month>11</month><year>2018</year></pub-date><volume>11</volume><issue>5</issue><issue-title>Африка в новом тысячелетии: движение по пути модернизации</issue-title><fpage>55</fpage><lpage>73</lpage><permissions><copyright-statement>Copyright &amp;#x00A9; Гемуева К.А., 2018</copyright-statement><copyright-year>2018</copyright-year><copyright-holder xml:lang="ru">Гемуева К.А.</copyright-holder><copyright-holder xml:lang="en">Gemueva K.A.</copyright-holder><license xml:lang="ru" license-type="creative-commons-attribution" xlink:href="https://creativecommons.org/licenses/by/4.0/" xlink:type="simple"><license-p>Данная работа распространяется под лицензией Creative Commons Attribution 4.0.</license-p></license><license xml:lang="en" license-type="creative-commons-attribution" xlink:href="https://creativecommons.org/licenses/by/4.0/" xlink:type="simple"><license-p>This work is licensed under a Creative Commons Attribution 4.0 License.</license-p></license></permissions><self-uri xlink:href="https://www.ogt-journal.com/jour/article/view/353">https://www.ogt-journal.com/jour/article/view/353</self-uri><abstract><p>Китайские компании активно участвуют в строительстве инфраструктурных объектов в странах Африки южнее Сахары (АЮС), существенная доля которых финансируется за счет китайских кредитов. По некоторым оценкам, на эти цели в 2000–2015 гг. Китай направил более 60% всех выделенных странам АЮС кредитов. Большая часть проектов выполняется крупными государственными компаниями КНР, их основными преимуществами являются возможность обеспечить льготное финансирование проекта, особая китайская модель финансирования, государственная поддержка за счет деятельности в русле стратегических целей КНР и приобретенные компетенции по реализации аналогичных проектов в Китае. Такая связка китайских банков и компаний служит эффективным инструментом для продвижения стратегических экономических и политических интересов КНР. Вместе с тем это дает странам АЮС уникальную возможность реализовать масштабные инфраструктурные проекты, необходимые для дальнейшего социально-экономического развития. Участие Китая в инфраструктурных проектах в странах АЮС началось в 1960‑е годы, а заметный рост масштаба и количества проектов отмечается с первого десятилетия XXI века. С выдвижением инициативы «Один пояс – один путь» акцент смещается в сторону реализации трансграничных и трансрегиональных мегапроектов. В статье раскрываются характерные особенности китайской модели финансирования, в том числе связанный характер кредитов, отсутствие политических требований (кроме признания принципа «одного Китая»), комбинированные схемы снижения рисков невозврата кредитов и непрозрачность условий сделок. Подробно рассмотрены ключевые направления инфраструктурного строительства китайских компаний в странах АЮС – энергетика, транспорт и телекоммуникации. Отдельное внимание уделено крупнейшим проектам в каждой сфере. Проанализированы проблемы, возникающие в ходе осуществления китайских инфраструктурных проектов, а также особенности среды реализации проектов на Африканском континенте.</p></abstract><trans-abstract xml:lang="en"><p>Chinese companies are actively involved in building infrastructure facilities in sub-Saharan Africa (SSA), with a substantial part of the projects funded by Chinese banks. According to some estimates, more than 60% of all Chinese loans granted to the SSA countries from 2000 to 2015 were provided to this end. Vast  majority of the projects are carried out by the state-owned enterprises (SOEs). Their main advantages are the opportunity to obtain concessionary financing for the project, a special Chinese model of financing, a government support of activities serving the national strategic goals and the expertise gained from the implementation of similar projects in China. Thiscombination of Chinese banks and companies is an effective tool for promoting China’s strategic economic and political interests. Meanwhile, it gives the SSA countries a unique opportunity to implement large-scale infrastructure projects necessary for further socio-economic development. China’s participation in infrastructure projects in the SSA countries began in the 1960s, and there has been a marked increase in the scale and number of projects since the first decade of the 21st century. In response to the launching “One belt, one road” initiative, the focus is shifting towards cross-border and transregional mega-projects. Chinese financing model profile described in the article comprise “tied” loans, no-political-strings-attached approach (except for the recognition of the “one China” principle), combined schemes to reduce the risk of non-repayment of loans and non-transparent transaction terms. The key areas of infrastructure development by Chinese companies in the SSA countries, i.e. energy, transport and telecommunications, are considered in detail. Particular attention is paid to the largest projects in each area. The problems arising during the implementation of Chinese infrastructure projects, as well as features of the project implementation environment on the African continent are analyzed. </p></trans-abstract><kwd-group xml:lang="ru"><kwd>Африка южнее Сахары</kwd><kwd>КНР</kwd><kwd>кредитное финансирование</kwd><kwd>энергетическая инфраструктура</kwd><kwd>транспортная инфраструктура</kwd><kwd>телекоммуникации</kwd></kwd-group><kwd-group xml:lang="en"><kwd>Sub-Saharan Africa</kwd><kwd>China</kwd><kwd>loan financing</kwd><kwd>energy infrastructure</kwd><kwd>transport infrastructure</kwd><kwd>telecommunications</kwd></kwd-group></article-meta></front><back><ref-list><title>References</title><ref id="cit1"><label>1</label><citation-alternatives><mixed-citation xml:lang="ru">Дейч Т.Л. (2008) Африка в стратегии Китая. М.: Институт Африки РАН.</mixed-citation><mixed-citation xml:lang="en">African Construction Trends, 2017 (2017). Deloitte.com. 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