China to carry out 50 agricultural assistance programs
President Xi Ji Ping on Monday announced that China will provide a total of $60 billion in financial support to Africa.
The Chinese leader made the announcement in a keynote speech at the opening ceremony of the 2018 Summit of the Forum on China-Africa Cooperation (FOCAC), in Beijing, China.
The fund, he said, would be provided in the form of government assistance as well as investment and financing by financial institutions and companies.
President Xi listed the financing to include 15 billion U.S. dollars of grants, interest-free loans and concessional loans, and 20 billion U.S. dollars of credit lines.
Others are the setting up of a 10-billion-U.S. dollars special fund for development financing and a 5-billion-U.S. dollars special fund for financing imports from Africa.
Chinese companies are also encouraged to make at least 10 billion U.S. dollars of investment in Africa in the next three years.
China decided to provide the funding support at the 2015 FOCAC Johannesburg summit to ensure the successful implementation of ten China-Africa cooperation plans adopted at the summit.
With the announcement, President Jinping said China has honoured its 2015 financing pledge to Africa. The financing has been either delivered or arranged, he added.
China, he said, would also expand its imports especially non-resource products from Africa.
Share this article
BARRISTER Anthony Woke Up At About 12Midnight To Urinate. He Almost Fainted When He Just Couldn't Pee: ENLARGED PROSTATE!!!
ANY MAN ABOVE 40 Shouldn't Wait For This Crisis! PREVENT PROSTATE CANCER!
PREVENT Or SHRINK Your Enlarged PROSTATE Within 15 Days Without Surgery!!! Click To See HOW!
Join us on
Send DTM to 4900 (MTN) or DTM to 655 (Etisalat) for regular updates and more
Share your story with us: 08189301900 (Whatsapp and SMS only) Email: email@example.com Or use this form
Complain about a story or Report an error and/or correction: +2348189301900
DISCLAIMER: Comments on this thread are that of the maker and they do not necessarily reflect the organizations stand or views on issues.