Chinese leader Xi Jinping on Thursday, September 5, pledged over $50 billion in financing for Africa over the next three years.
More than 50 African leaders and UN Secretary-General Antonio Guterres are attending this week’s China-Africa forum, according to state media.
Addressing the leaders at the forum’s opening ceremony in Beijing’s Great Hall of the People on Thursday, Xi said ties with Africa is in their “best period in history”.
Xi promised to deepen cooperation in infrastructure and trade with Africa.
“China is ready to deepen cooperation with African countries in industry, agriculture, infrastructure, trade and investment,” Xi said.
“Over the next three years, the Chinese government is willing to provide financial support amounting to 360 billion yuan ($50.7 billion),” Xi said.
Over half of that will be in credit, he said, with $11 billion “in various types of assistance” as well as $10 billion through encouraging Chinese firms to invest.
He also promised to help “create at least one million jobs for Africa”.
The Chinese leader pledged $141 million in grants for military assistance to the continent as well.
Beijing would “provide training for 6,000 military personnel and 1,000 police and law enforcement officers from Africa”, Xi said.
Also addressing the meeting, UN chief Guterres told African leaders that growing ties between China and the continent could “drive the renewable energy revolution”.
“China’s remarkable record of development — including on eradicating poverty -– provides a wealth of experience and expertise,” he said.
China is Africa’s largest trading partner and has sought to tap the continent’s vast troves of natural resources including copper, gold, lithium and rare earth minerals.
It’s as if the whole $50 Billion is coming to Zambia…and only Hakainde is in Beijing! And he is the one who has made this possible …and the sick Daily Mail will splash another screaming headline!
Praise Thugs with their Media are a wonder.
There are over 50 countries in Africa, some of strategic importance to China. And assuming equal distribution of the $50Billion for 3 years among 50 countries, that is $300Million per year, per country. Reality check.
From your comment above it shows you are really bitter. Surely you can’t be happy that our country will benefit from this pledge should it be fulfilled regardless of the amount we may get. Even just a million dollars is still something that can benefit our country. We.can do a lot of things in just $1 million. For once please wish something good for our country unlike your continued wish of bad things for our country.