China’s Xi pledges $60 billion in financing for Africa
BEIJING; 3 Sep; (AP) — Chinese President Xi Jinping on Monday pledged $60 billion in financing for projects in Africa in the form of assistance, investment and loans, as China furthers efforts to link the continent’s economic prospects to its own.
Speaking to a gathering of African leaders in Beijing, Xi said the figure includes $15 billion in grants, interest-free loans and concessional loans, $20 billion in credit lines, $10 billion for “development financing” and $5 billion to buy imports from Africa.
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