Open

Coming up

Don't miss

Replay


LATEST SHOWS

THE INTERVIEW

Yezid Sayigh, Senior Associate at the Carnegie Middle East Center in Beirut

Read more

#TECH 24

Mind the Gender Gap : getting more women into the tech sector

Read more

INSIDE THE AMERICAS

Bolivian children: heading to work aged 10

Read more

WEB NEWS

Israel and Hamas battle online over public opinion

Read more

FOCUS

Can Chancellor Merkel's winning streak last?

Read more

FOCUS

Hunger in a fertile land...

Read more

DEBATE

Nigeria: One Hundred Days and Counting (part 2)

Read more

DEBATE

Nigeria: One Hundred Days and Counting

Read more

MEDIAWATCH

'Why Are So Many Children Dying in Gaza?'

Read more

  • Air Algerie ‘lost contact’ with flight leaving Burkina Faso

    Read more

  • Two foreign women shot dead in western Afghanistan

    Read more

  • At least 60 killed in attack on prison convoy near Baghdad

    Read more

  • Sudanese Christian woman sentenced to death arrives in Italy

    Read more

  • Cycling is ‘winning the war on doping,’ says expert

    Read more

  • Ceasefire agreed for Central African Republic

    Read more

  • In pictures: Thousands march for Gaza peace in Paris

    Read more

  • Can Jew-kissing-Arab selfie give peace a viral chance?

    Read more

  • France charges Swiss bank UBS with tax fraud

    Read more

  • Israel faces heightened diplomatic pressure as Gaza violence rages

    Read more

  • Botched Arizona execution takes nearly two hours

    Read more

  • Bomb attacks leave scores dead in north Nigeria

    Read more

  • Netherlands holds day of mourning for victims of flight MH17

    Read more

  • Two Ukrainian fighter jets shot down over rebel-held territory

    Read more

  • Ryanair ordered to pay back €9.6m in illegal state aid to France

    Read more

Africa

Beijing pledges $10 billion in aid

Text by News Wires

Latest update : 2009-11-08

China pledged 10 billion dollars in concessional loans to African countries and promised to cancel all debts at the start of the two-day Forum on China-Africa Cooperation in Egypt.

AFP - Chinese Prime Minister Wen Jiabao pledged to give African countries 10 billion dollars in concessional loans as a two-day Forum on China-Africa Cooperation opened in Egypt on Sunday.
  
"We will help Africa build up its financing capabilities... we will provide 10 billion US dollars for Africa in concessional loans," Wen said at the start of the forum in the Red Sea resort of Sharm el-Sheikh.
  
He also pledged to cancel debts of African countries to increase his country's role in the continent.
  
The Asian giant pledged 5.0 billion dollars in assistance at the last Forum on China-Africa Cooperation summit, held in Beijing in 2006, and has signed agreements to relieve or cancel the debt of 31 African countries.
  
"China is ready to deepen practical cooperation in Africa," Wen said, adding that China was prepared to take on a role in "the settlement of issues of peace and security."
  
He also said China would set up environmental programmes in the continent, including 100 clean energy projects.
  

Chinese firms have been pouring investments into oil and other raw materials in Africa to fuel the Asian country's booming economy.
  
Over the past five years, Chinese direct investment in Africa has soared, from 491 million dollars in 2003 to 7.8 billion dollars in 2008, according to official Chinese figures.
  
Total trade between China and Africa surpassed 100 billion dollars in 2008, a tenfold increase in eight years.
  
Booming trade ties have been accompanied by China also building schools, hospitals and clinics to fight malaria and offering scholarships for Africans to study in China.
  
But Beijing's growing economic role in the poverty-ridden continent has also been met with some scepticism and criticism.
  
China has been accused of throwing a lifeline to pariah regimes accused of massive human rights violations, such as the government of Sudan's President Omar al-Beshir, who is wanted for war crimes by the International Criminal Court.
  
Chinese officials say they follow a policy of non-interference in the domestic affairs of African countries, and deny that Chinese investments and loans come with strings attached.
  
"Africa is fully capable of solving its own problems, in an African way," Wen said in his speech.
  
"China has never attached any political strings... to assistance to Africa," he said, adding that trade is based on "win-win programmes... and transparency."

Date created : 2009-11-08

COMMENT(S)