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China to double loans for African countries
By Wang Yanlin |
July 19, 2012, Thursday
|
Online Edition
Online Edition
CHINA will double loans for African countries to US$20 billion over the next three years to boost a key strategic relationship in the developing world.
The new loans will be spent on Africa's construction of infrastructure, agriculture, manufacturing and development of small and medium-sized businesses, said Chinese President Hu Jintao today during the opening ceremony of the Fifth Ministerial Conference of the Forum on China-Africa Cooperation in Beijing.
"China wholeheartedly supports African countries to choose their own development path, and will wholeheartedly support them to raise their development ability," Hu told the conference attended by top African leaders.
The renewed efforts came after a three-year period starting in 2009 when China offered US$10 billion to African countries, followed by a string of aid and credit provided to many poverty-stricken nations in Africa.
Hu said China will take measures in five priority areas to support peace and development in Africa and boost a new type of Sino-African strategic partnership.
The five areas cover increases in investment, technology transfer, support in the African integration process, people-to-people friendship exchanges, and peace-keeping cooperation.
Concrete plans include China building more agricultural technology demonstration centers to help African countries increase production capacity; the "African Talents Program" will be launched to train 30,000 personnel in various sectors for Africa; and the offering of 18,000 government scholarships, Hu said.
The new loans will be spent on Africa's construction of infrastructure, agriculture, manufacturing and development of small and medium-sized businesses, said Chinese President Hu Jintao today during the opening ceremony of the Fifth Ministerial Conference of the Forum on China-Africa Cooperation in Beijing.
"China wholeheartedly supports African countries to choose their own development path, and will wholeheartedly support them to raise their development ability," Hu told the conference attended by top African leaders.
The renewed efforts came after a three-year period starting in 2009 when China offered US$10 billion to African countries, followed by a string of aid and credit provided to many poverty-stricken nations in Africa.
Hu said China will take measures in five priority areas to support peace and development in Africa and boost a new type of Sino-African strategic partnership.
The five areas cover increases in investment, technology transfer, support in the African integration process, people-to-people friendship exchanges, and peace-keeping cooperation.
Concrete plans include China building more agricultural technology demonstration centers to help African countries increase production capacity; the "African Talents Program" will be launched to train 30,000 personnel in various sectors for Africa; and the offering of 18,000 government scholarships, Hu said.
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