{"id":87602,"date":"2024-09-05T14:03:08","date_gmt":"2024-09-05T14:03:08","guid":{"rendered":"https:\/\/chezaspin.com\/blog\/index.php\/2024\/09\/05\/xi-announces-sh6-5tn-financial-support-to-africa\/"},"modified":"2024-09-05T14:03:08","modified_gmt":"2024-09-05T14:03:08","slug":"xi-announces-sh6-5tn-financial-support-to-africa","status":"publish","type":"post","link":"https:\/\/chezaspin.com\/blog\/xi-announces-sh6-5tn-financial-support-to-africa\/","title":{"rendered":"Xi announces Sh6.5tn financial support to Africa"},"content":{"rendered":"

BEIJING, China, Sep 5 \u2013 President Xi Jinping of China has announced a 10-point partnership action plan for Africa for the next three years.<\/strong><\/p>\n

These include the modernisation of industrialisation, agriculture, trade, investment, training, and infrastructure.<\/p>\n

Others are access for Africa\u2019s goods to the Chinese market, 30 infrastructure connectivity projects and development cooperation comprising 1,000 livelihood projects.<\/p>\n

\u201cIn the next three years, China will work with Africa to take 10 partnership actions for modernisation to deepen China-Africa cooperation and spearhead Global South modernisation,\u201d he said.<\/p>\n

Speaking when he opened the 9th Forum on China-Africa Cooperation summit in Beijing, President Jinping said the 10 action plans will provide Africa with $50 billion (KSh6.5 trillion) of financial support.<\/p>\n

He said it will include a $29.4 billion credit line, $11.2 billion of various forms of assistance and at least $9.8 billion of investment in Africa by Chinese companies.<\/p>\n

In addition, he said, China will encourage and support Africa in issuing Panda Bonds in China to enhance results-oriented cooperation.<\/p>\n

\u201cThis provides new opportunities and driving forces for African countries and for our joint pursuit of modernisation,\u201d he said.<\/p>\n

President Xi said modernisation should put people first and strive to reduce poverty, provide jobs and foster inclusive growth.<\/p>\n

\u201cModernisation should be just and equitable,\u201d he said.<\/p>\n

He said modernisation is an inalienable right of all countries and emphasized the need for open, win-win modernisation.<\/p>\n

The Chinese leader noted that China and Africa together account for one-third of the world\u2019s population, saying without the modernisation of the two, there will be no global modernisation.<\/p>\n

President Xi announced that China will elevate the status of African countries with diplomatic relations to a\u00a0 strategic level so that they join what he called \u201cthe all-weather Chinese community\u201d.<\/p>\n

He said the 10-point plan will be achieved through cooperation in governance, experience-sharing platforms, knowledge networks and leadership training programmes.<\/p>\n

President Xi also said the aim of the new deal is to foster economic opportunities by offering zero-tariff treatment to Least Developed Countries in Africa, expanding market access for agricultural products and establishing economic partnerships.<\/p>\n

The leader said the partnership actions also focus on industrial cooperation, enhancing digital technology and implementing connectivity projects like infrastructure development to support the Africa Continental Free Trade Area.<\/p>\n

\u201cChina is prepared to implement 30 infrastructure connectivity projects in Africa, promote high-quality Belt and Road cooperation and put in place a China-Africa network featuring land-sea links and coordinated development,\u201d<\/p>\n

\u00a0he said.<\/p>\n

Additionally, President Xi said China plans to engage in health sector improvements by establishing medical alliances, sending medical personnel and supporting Africa\u2019s pharmaceutical industry.<\/p>\n

The partnership will extend to agriculture, with plans for emergency food assistance and agricultural development, people-to-people exchanges to strengthen vocational education and cultural programmes, and green development initiatives, including clean energy and disaster mitigation projects.<\/p>\n

\u201cChina is ready to launch 30 clean energy projects in Africa, put in place meteorological early warning systems and carry out cooperation in disaster prevention, mitigation and relief as well as biodiversity conservation,\u201d he said.<\/p>\n

On security, he said, China will provide military assistance, training and conduct joint exercises to enhance cooperative security efforts with Africa.<\/p>\n

\u201cWe will give Africa $140 million (KSh18.2 billion) of grants in military assistance, provide training for 6,000 military personnel and 1,000 police and law enforcement officers from Africa, and invite 500 young African military officers to visit China,\u201d he said.<\/p>","protected":false},"excerpt":{"rendered":"

BEIJING, China, Sep 5 \u2013 President Xi Jinping of China has announced a 10-point partnership action plan for Africa for the next three years. These include the modernisation of industrialisation, agriculture, trade, investment, training, and infrastructure. Others are access for Africa\u2019s goods to the Chinese market, 30 infrastructure connectivity projects and development cooperation comprising 1,000 […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-87602","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/87602","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/comments?post=87602"}],"version-history":[{"count":0,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/87602\/revisions"}],"wp:attachment":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/media?parent=87602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/categories?post=87602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/tags?post=87602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}