PNN – In a meeting with the leaders of the African continent, Chinese President Xi Jinping pledged to provide financial support of 50 billion dollars to this continent in the next three years.
According to the report of Pakistan News Network, quoting Xinhua news agency, speaking at Beijing’s biggest summit since the coronavirus pandemic, Xi pledged more than $50 billion to Africa over the next three years and promised to boost cooperation on infrastructure and trade with the continent.
More than 50 heads of African countries and United Nations Secretary-General Antonio Guterres are present at this week’s meeting between China and Africa.
African leaders this week signed many agreements for greater cooperation in infrastructure, agriculture, mining, trade and energy.
At the opening ceremony of the China-Africa Forum at the Great Hall of the People in Beijing on Thursday morning, Xi Jinping praised the relations with the African continent as “the best period in history”.
He said: China is ready to deepen cooperation with African countries in industry, agriculture, infrastructure, trade and investment.
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Over the next three years, the Chinese government is willing to provide 360 ​​billion yuan ($50.7 billion) of financial support to Africa, Xi stressed.
The President of China stated that more than half of this assistance will be in the form of credit amounting to 11 billion dollars “in various types of aid”, as well as 10 billion dollars through encouraging Chinese companies to invest.
He also promised to help create at least one million jobs in Africa.
Guterres, the Secretary General of the United Nations, also told the heads of African countries in this meeting that the growing relations between China and this continent can advance the renewable energy revolution.
As the world’s number two economy, China is the largest trading partner of the African continent and has sought to exploit the continent’s natural resources, including copper, gold, lithium and rare minerals.
Beijing has given billions in loans to African countries and helped build the needed infrastructure.
The President of Zambia, Hakainde Hichilema, announced after the meetings and meetings that an agreement has been reached between the state electricity company ZESCO and Beijing Power China to expand the use of rooftop solar panels in his country.
Nigeria and China signed a joint statement in which they agreed to “deepen cooperation” in infrastructure, including transport, ports and free trade zones.
For his part, Tanzanian President Samia Sulehu Hassan pledged to push for new developments in the railways connecting his country to neighboring Zambia.
This project, for which Zambian media said Beijing has pledged $1 billion, aims to expand transport links in the eastern part of the African continent.