Deborah Brautigam has a truly great and thought-provoking article on the ways in which China is challenging the international aid architecture (with significant focus on sub-Saharan Africa). According to Brautigam, it's not as doom and gloom as one might be inclined think:
... unlike the West, which buys oil in places like Angola without much caring how the government uses the revenue generated, Beijing buys Angola's oil while ensuring that the purchase price goes to pay its companies to build infrastructure. This is the essence of "win-win," as proposed by the Chinese in their African engagement.
While China's development program is indubitably flawed in many ways, it appears to be quite right in many others. What's more, Chinese foreign aid - largely in the form of oil-for-infrastructure contracts - is an attractive alternative for recipient states which are in dire need of infrastructure (and likewise tired of the Western ways of doing things). As Brautigam aptly observes, China's development aid reflects, among other things, its understanding and assumptions about the road out of poverty. As such, it stands as a challenge to the traditional aid architecture.