China is well on the way to investing a trillion dollars in Africa in less than a decade [AFP]Sunday, November 08, 2009
16:07 Mecca time, 13:07 GMT
The Chinese government has pledged to give African countries billions of dollars in cheap loans at a two-day Africa-China summit in Egypt.
Addressing hundreds of Chinese and African businessmen at the Red Sea resort of Sharm El-Sheikh on Sunday, Wen Jiabao, China's premier, said he would also cancel debts of African countries.
"We will help Africa build up its financing capabilities ... we will provide $10bn for Africa in concessional loans," he said.
Wen insisted that his attempt to boost trade ties with Africa was not being pursued at the expense of the continent.
He rejected critics who say that resource-hungry China ignores the human-rights records of many of the continent's nations.
"Our efforts are sincere and selfless, without political strings attached," he said.
"China's training of 15,000 African professionals has provided the continent with a human resource more valuable than gold."
FULL STORY
Addressing hundreds of Chinese and African businessmen at the Red Sea resort of Sharm El-Sheikh on Sunday, Wen Jiabao, China's premier, said he would also cancel debts of African countries.
"We will help Africa build up its financing capabilities ... we will provide $10bn for Africa in concessional loans," he said.
Wen insisted that his attempt to boost trade ties with Africa was not being pursued at the expense of the continent.
He rejected critics who say that resource-hungry China ignores the human-rights records of many of the continent's nations.
"Our efforts are sincere and selfless, without political strings attached," he said.
"China's training of 15,000 African professionals has provided the continent with a human resource more valuable than gold."
FULL STORY
