The Chinese leave far behind Western countries erstwhile it comes to the level of investment for Africa. On Thursday, during the China-African Cooperation Forum (FOCAC) summit held all 3 years in Beijing, the Chinese leader promised to allocate over $50 billion over the next 3 years to invest in infrastructure and make trade with African countries.
The summit proved successful for African leaders, who signed a number of agreements this week to deepen cooperation on infrastructure, agriculture, mining, trade and energy.
Xi Jinping addressed his words to more than 50 African leaders, pointing out that the "best time in history" is presently going on in terms of China's cooperation with the Black Land. And it will be even better for the planned investment of $50.7 billion.
Half of the promised amount will be in the form of credits, of which $11 billion is to be allocated “in different forms of assistance”, as well as $10 billion by encouraging Chinese companies to invest. The Chinese leader announced the creation of over 1 million jobs in Africa. He besides said that China would lift customs duties on goods from the 33rd least developed African countries.
In addition, he proposed to all African countries having bilateral diplomatic relations with China raised them to the level of strategical relations so that the Chinese-African community would yet be "with a common future for a fresh era".
Xi Jinping said that in view of the upcoming 75th anniversary of the People's Republic of China, “we are doing everything we can to build a wonderful, modern socialist country in all respect and we are striving for national renewal through the Chinese modernisation path. Africa besides wakes up again, and the continent is moving on solid steps towards the modernisation objectives set out in Agenda 2063 AU. The joint efforts of China and Africa to modernise will make a wave of modernisation in the Global South and will open a fresh chapter in our quest to accomplish a community with a common future for humanity," he stressed.
The Chinese leader, addressing UN Secretary General Antonio Guterres, who besides attends the summit, pointed out that Chinese-African cooperation could “bring about a revolution in renewable energy”. In addition, Beijing offers African residents expertise and experience in managing modernisation.
He besides talked about the promotion of "green development" in Africa and in the world, which is "a hallmark of modernisation in the fresh era". – China is ready to aid Africa build "green growth engines", reduce the energy availability gap, respect the rule of shared but differentiated work and jointly push for global transformation towards green and low-carbon development - He said.
The Chinese are besides to aid Africans safe (Global safety Initiative). Over the next 3 years, they will focus on: partner activities for common learning of civilizations (building of a management network, 25 centres of survey on China and Africa, building leadership, exchanging experience in organization and state governance); partnerships for improving trade; activities for developing industrial cooperation and the supply chain (including digitalisation); partnerships for communication (30 infrastructure communication projects within the Belt and the Trail, African Continental Free Trade Area); partnerships for improvement cooperation improving the quality of life, support for Africa in the organisation of the 2026 Youth Olympics and the 2027 Africa Cup); wellness partnerships (society hospitals and joint medical centres, consequence to epidemics); agricultural and life-saving partnerships; partnerships for exchanges between nations; partnerships for green development, including cooperation in space exploration; partnerships for common safety (military assistance, training, joint exercises, patrols).
China is presently Africa's largest trading partner, primarily utilizing natural resources, including copper, gold, lithium and uncommon earth elements essential for eco-digital transformation.
The mediate State not only granted billion-dollar loans to Africans, but besides invested in infrastructure development. There was much controversy about this due to the dense debt that African governments had to bear.
U.S. analysts propose that Beijing's "generousness towards Africa" will decrease due to economical problems in the country and geopolitical concerns about the increasing dispute with the United States.
On Wednesday, president Hakainde Hichilema of Zambia reported that he oversees the agreement between the state-owned power company ZESCO and Beijing PowerChina to extend the usage of solar panels on roofs in his country.
Nigeria, 1 of the largest African debtors of Beijing, is to deepen cooperation in the construction of transport infrastructure, ports and free trade zones.
Tanzanian president Samia Suluhu Hassan has promised to make advancement in the construction of a long-standing railway line linking his country to neighboring Zambia. The Chinese spent $1 billion on this project. It's an area rich in natural resources.
Zimbabwe is to deepen cooperation in agriculture, mining, conventional and fresh energy infrastructure and transport. The African country will besides increase the level of exports of avocados to Beijing.
Kenyan leader William Ruto claims Xi promised to open Chinese markets to agricultural products from his country. In addition, they will make a national railway connecting the capital of Nairobi with the port city of Mombasa. The construction of the Rironi-Mau Summit-Malaba motorway was besides discussed, which is expected to cost about $1.2 billion. Kenya now owes Beijing over $8 billion. Last year, she stopped many construction projects, seeking debt restructuring.
The FOCAC initiative was established in 2000.
Source: voiceofamerica.com, newtimes.co.nw
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