China pledges $60bn in financial support to Africa

China pledges $60bn in financial support to Africa

China’s President Xi Jinping, at the opening of a major China-Africa summit on Monday, said China will provide $60 billion in financial support to Africa.

The support according to Xi in a speech carried live on state television will be provided in the form of government assistance as well as investment and financing by financial institutions and companies.

China will also expand its imports from Africa, especially for non-resources products, and will facilitate African financial institutions’ bond issuances in China, Xi added.

Agency Report

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