China’s President Xi Jinping has promised Africa more than $50 billion in fresh funding.
That’s as he opened a major China-Africa summit in Beijing on Thursday (September 5).
“China is willing to deepen cooperation with Africa in the areas of industry and agriculture, infrastructure, trade and investment.”
Xi said 210 billion yuan of the financing, a little under $30 billion, would be disbursed through credit lines and 70 billion yuan in fresh investment by Chinese companies.
He also told delegates from more than 50 African countries that the world’s second largest economy would carry out 30 infrastructure projects.
