Home BIG Story Here’s How Much China Pledged In Financial Support To Africa

Here’s How Much China Pledged In Financial Support To Africa

The amount 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 spend for imports from Africa.

Here’s How Much China Pledged In Financial Support To Africa
Here’s How Much China Pledged In Financial Support To Africa

Chinese President Xi Jinping has pledged $60 billion in financing for ventures in Africa in the form of assistance, Investment and loans.

During the event of a China-Africa summit, President Xi Jinping said the amount 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 spend for imports from Africa.

He further added that China will also expand its imports from Africa.

Xi also endorsed initiative to build ports and other infrastructure as a tool for common prosperity in a world facing challenges from trade tariff barriers.