Xi Jinping, the leader of China, promised to finance Africa with over $50 billion over the next three years on Thursday, September 5.
This week’s China-Africa meeting is expected to be attended by over fifty African leaders and UN Secretary-General Antonio Guterres, as reported by official media.
According to Xi, relations with Africa are at their “best period in history” during his speech to the leaders on Thursday at the forum’s opening ceremony in Beijing’s Great Hall of the People.
In terms of infrastructure and trade with Africa, Xi pledged to strengthen collaboration.
“China is ready to deepen cooperation with African countries in industry, agriculture, infrastructure, trade and investment,” Xi said.
“Over the next three years, the Chinese government is willing to provide financial support amounting to 360 billion yuan ($50.7 billion),” Xi said.
He stated that more than half of that will be financed, with $10 billion coming from pushing Chinese businesses to invest and $11 billion coming from “different types of assistance.”
In addition, he pledged to assist in “creating at least one million jobs for Africa.”
Additionally, the Chinese leader promised to donate $141 million to the continent for military support.
Beijing would “provide training for 6,000 military personnel and 1,000 police and law enforcement officers from Africa”, Xi said.
UN Secretary General Antonio Guterres also spoke at the conference, telling African leaders that closer relations between China and the region could “drive the renewable energy revolution.”
“China’s remarkable record of development — including on eradicating poverty -– provides a wealth of experience and expertise,” he said.
China, the biggest trading partner of Africa, has made an effort to gain access to the natural resources found on the continent, which include rare earth minerals, copper, gold, and lithium.
A Gentle Reminder: Every obstacle is a stepping stone, every morning; a chance to go again, and those little steps take you closer to your dream.
Nnamdi Okoli
