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The on-going conflict is unlikely to bring about a dramatic shift in China’s economic engagement with Juba, but it is certainly leading to more prudence by potential Chinese investors, as well as delays in project completion.
China will send 700 soldiers to a U.N. peacekeeping force in South Sudan later this year to protect civilians amid a rebellion in the African country, a U.N. official said on Wednesday.
China began deploying 700 soldiers to a United Nations peacekeeping force in South Sudan to help guard the country's embattled oil fields and protect Chinese workers and installations, a spokesman for the African nation's president said Tuesday.
International oil companies operating in South Sudan recently rejected a request by the South Sudanese government for an advance on oil earnings, according to a report by a leading financial newspaper.
On the third anniversary of its independence, South Sudan looks like it is sliding into a dangerous cycle of oil-backed debt. If the government is to avoid bankruptcy, it must take steps to get its house in order and make any future loan deals transparent.
The government of South Sudan plans to borrow about 3 billion pounds from oil companies to help cover repayments on domestic loans and previous oil advances, Juba said in a budget document.
Beijing quietly secured a deal that will put the U.N.'s blue helmets to work protecting workers in South Sudan's oil installations, where China has invested billions of dollars over the years and holds a major financial stake.
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