THE People’s Republic of China will pledge more than $60bn for 10 major projects on the continent over three years, President Xi Jinping said on Friday.
Mr Xi, who was addressing the opening of the Forum for Africa-China Co-operation (Focac) summit in Johannesburg, said China’s relationship with Africa had reached historically high levels.
The expansion of co-operation will "open up a new era of ... win-win and common development", said Mr Xi.
China would embark on programmes that would, among other things, help to train more than 200,000 technicians, offer education opportunities in China to 40,000 African students, and roll out antimalarial medication and primary healthcare support. This would be in addition to investment in infrastructure and cultural exchange.
The bulk of the pledge would take the form of preferential financing and Mr Xi explained that the $60bn included $5bn in grants and interest-free loans, while $35bn had been earmarked for preferential loan facilities and lines of credit for exports.
China had also pledged $100m for an African rapid reaction force to deal with security crises on the continent and other funds would go towards internal policing, including buying riot gear, said Mr Xi.
China, however, regarded economic development as the primary means through which long-term peace and stability could be achieved, he added.
The two-day summit in Johannesburg is expected to establish a blueprint for China-Africa co-operation until 2018, and Mr Xi repeatedly emphasised that collaboration should be based on mutual interest.
Representatives from 50 African countries have gathered in Sandton for the event, which concludes on Saturday. These include 49 heads-of-state, with a notable exception of Sudanese President Omar al-Bashir.
President Jacob Zuma, who is co-chairing the summit with Mr Xi, said the measures announced by the Chinese president were "concrete evidence that our relations with China are different from other relationships we have had (over) the centuries".
Mr Zuma was repeating sentiments expressed by African Union (AU) chairman Robert Mugabe, who earlier lashed out at critics who maintained that the continent’s relationship with China was primarily about resource extraction.
Chinese President Xi Jinping. Picture: CGIS
THE People’s Republic of China will pledge more than $60bn for 10 major projects on the continent over three years, President Xi Jinping said on Friday.
Mr Xi, who was addressing the opening of the Forum for Africa-China Co-operation (Focac) summit in Johannesburg, said China’s relationship with Africa had reached historically high levels.
The expansion of co-operation will "open up a new era of ... win-win and common development", said Mr Xi.
China would embark on programmes that would, among other things, help to train more than 200,000 technicians, offer education opportunities in China to 40,000 African students, and roll out antimalarial medication and primary healthcare support. This would be in addition to investment in infrastructure and cultural exchange.
The bulk of the pledge would take the form of preferential financing and Mr Xi explained that the $60bn included $5bn in grants and interest-free loans, while $35bn had been earmarked for preferential loan facilities and lines of credit for exports.
China had also pledged $100m for an African rapid reaction force to deal with security crises on the continent and other funds would go towards internal policing, including buying riot gear, said Mr Xi.
China, however, regarded economic development as the primary means through which long-term peace and stability could be achieved, he added.
The two-day summit in Johannesburg is expected to establish a blueprint for China-Africa co-operation until 2018, and Mr Xi repeatedly emphasised that collaboration should be based on mutual interest.
Representatives from 50 African countries have gathered in Sandton for the event, which concludes on Saturday. These include 49 heads-of-state, with a notable exception of Sudanese President Omar al-Bashir.
President Jacob Zuma, who is co-chairing the summit with Mr Xi, said the measures announced by the Chinese president were "concrete evidence that our relations with China are different from other relationships we have had (over) the centuries".
Mr Zuma was repeating sentiments expressed by African Union (AU) chairman Robert Mugabe, who earlier lashed out at critics who maintained that the continent’s relationship with China was primarily about resource extraction.
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