China Provide Africa With More Than 50 Billion Dollars For Partnership Projects
(MENAFN- AzerNews)
By Alimat Aliyeva
In the next three years, the Chinese authorities will provide
financial assistance to African states in the amount of 360 billion
yuan (more than 50 billion dollars at the current exchange rate)
for the implementation of joint partnership projects,
Azernews reports.
"For 10 partnership events, the Chinese government will provide
financial support to Africa in the amount of 360 billion yuan in
the next three years," he said, speaking at the opening ceremony of
the ninth summit of the China-Africa Cooperation Forum (CCAC).
As the Chinese president clarified, the mentioned amount
includes 210 billion yuan ($29.5 billion) on a credit line, 80
billion yuan (about $ 11.2 billion) of assistance "in various
forms" and at least 70 billion yuan ($9.8 billion) in investments
from Chinese companies.
"China will encourage and support Africa in issuing panda bonds
(debt instruments denominated in yuan) in order to strengthen our
results-oriented cooperation in all areas," he added.
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