Chinese President Xi Jinping has pledged $51 billion in new financing for Africa and support 30 infrastructure projects across the continent.
During his speech at the FOCAC summit, the Chinese president stressed that China's $19 trillion economy will unilaterally improve African trade access to its market. China is ready to launch 30 clean energy projects in Africa as well as support the continent's nuclear energy targets to help tackle the electricity deficit that has long hampered the achievement of Africa's broader industrialization goals.
He stressed Beijing's willingness to carry out 30 projects to connect infrastructure in Africa and establish a China-Africa land and sea network. We stand ready to assist in the development of the African Continental Free Trade Area and promote logistical and financial cooperation for the benefit of development across various regions in Africa.
Source (CNBC Arabia Website, Edited)
