October 23, 2016

China pledges $60bn to develope Africa

China has announced $60bn (£40bn) of assistance and loans for Africa to help with the development of the continent.

President Xi Jinping said the package would include zero-interest loans as well as scholarships and training for thousands of Africans.

The Chinese leader made the announcement at a major summit between China and Africa in Johannesburg.

The momentum of rapid growth in Africa was “unstoppable”, Mr Xi told more than 35 African heads of state.

South Africa’s President Jacob Zuma, who is joint host at the summit, welcomed Africa and China’s deepening partnership.

“China has become Africa’s largest trade partner, and Africa is now one of China’s major import sources and fourth largest investment destination. This partnership can only yield further positive results for Africa’s development,” Mr Zuma said.

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