China Pledges US$60bn In Loans To African Countries

Xi Jinping (second from left) at the Forum on China-Africa Cooperation in Johannesburg. (DIRCO ZA) Chinese President Xi Jinping has pledged US$60 billion to African countries for the next three years in loans and grants at the China-Africa Summit being held in South Africa. US$156 million was pledged for drought stricken countries in Africa for mitigation purposes. President Xi said the relationship between Africa and China is built on win-win basis, citing the construction of…

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