WEB DESK
Chinese President Xi Jinping has pledged 60 billion dollars in funding for African countries to push for infrastructure projects.Xi announced the package at the Forum on China-Africa Cooperation that opened in Beijing today. Leaders from 53 African countries are taking part. The meeting is held every 3 years.
In his opening remarks, Xi said that China would provide 60 billion dollars over the next 3 years in loans and other forms of aid and investment. He said no one can undermine the great unity between the Chinese and African people, calling China Africa’s friend forever.
According to media reports China pledged the same amount at the previous meeting in 2015. Xi announced a plan to strengthen cooperation between China and African nations in a broad range of areas under the theme of building a community for a shared future. China apparently wants to invite African countries to the “Belt and Road” initiative to expand its influence.
Xi said that some countries with heavy liabilities will be exempted from repayment of interest-free loans that are due by the end of this year. He made the statement, taking into account concerns over the swelling debt in some countries.
Xi warns against the US and European nations which are critical of China’s involvement in the African continent. Xi also said no one could, out of imagination or assumption, deny the remarkable achievements made in China-Africa cooperation.