(Xinhua) -- China will extend a total of 60
billion U.S. dollars of financing to Africa, Chinese
President Xi Jinping announced Monday.
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 a keynote speech at the opening ceremony of the
2018 Beijing Summit of the Forum on China-Africa
The financing includes 15 billion U.S.
dollars of grants, interest-free loans and concessional
loans, 20 billion U.S. dollars of credit lines, 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
China has honored its 2015 promise to
provide Africa with funding support totaling 60 billion
U.S. dollars, Xi said, adding that the financing has
been either delivered or arranged.
China decided to provide the funding
support at the FOCAC Johannesburg summit to ensure the
successful implementation of ten China-Africa
cooperation plans adopted at the summit.