Additional funding pledged
Print Edition
CHINA will extend a total of US$60 billion in additional financing to Africa, President Xi Jinping announced yesterday.
The financing will be provided in the form of government assistance as well as investment and financing by financial institutions and companies, Xi said in his keynote opening speech at the FOCAC summit.
The financing includes US$15 billion of grants, interest-free loans and concessional loans, US$20 billion of credit lines, the setting up of a US$10-billion special fund for development financing and a US$5-billion special fund for financing imports from Africa.
Chinese companies are also encouraged to make at least US$10 billion of investment in Africa over the next three years.
Recalling that China has honored its 2015 promise of providing Africa with US$60 billion in funding support, the Chinese leader said that the financing has been either delivered or arranged.
The country decided to provide the funding support at the FOCAC Johannesburg summit to ensure the successful implementation of 10 China-Africa cooperation plans adopted at that summit in South Africa.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
