In his keynote speech at the Forum on China-Africa Cooperation (FOCAC), now underway in Johannesburg, South Africa, Xi Liping has also given the pledge a clearer context: “China strongly believes that Africa belongs to the African people and that African affairs should be handled by the African people”, he said.
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At the last summit in Beijing, China pledged to provide a $20 billion credit line to African countries for development projects and boosted the China Africa development fund by $5 billion, as it has this year.
While several world leaders meet in Paris to discuss the fight against climate change, a very different kind of meeting is happening to the south. This week, African countries are receiving a visit from their largest trading partner: China.
China would cancel existing debts with zero interest loans for least developed countries that mature by end of 2015, he said. One billion renminbi ($156 million, 143 million euro) worth of emergency food aid would, therefore, be provided to the worst-hit countries.
“China will implement ten cooperation plans with Africa in the next three years”, Xi said, adding that the $60 billion was targeted toward ensuring that the plans are successfully implemented.
The Chinese leader made the announcement at a major summit between China and Africa in Johannesburg.
China and Africa should work together to translate superiority of their friendship into momentum for win-win cooperation and common development, and translate rich natural and human resources on the continent into economic power and people’s wellbeing, the Chinese president said at the banquet.
The total amount the loan that China will give to South Africa based on their 26 deals amounts to about $6.5 billion, BBC reported.
China helped develop and launch the Nigerian communications satellite (NigComSat-1) by 2007 to expand cellular and internet networks in Central Africa.
While many African currencies have collapsed this year because of falling commodity prices and other economic woes, Mr. Xi insisted on an upbeat view.
The African aspirations are expressed in Agenda 2063 and the Chinese vision was presented in a new policy framework announced by President Xi Jinping in March 2015, titled “Visions and Actions on Jointly Building Silk Road Economic Belt and 21st Century Maritime Silk Road”.
The 10 proposed cooperation plans cover the areas of industrialization, agricultural modernization, infrastructure, poverty reduction and people-to-people exchanges.
President Jacob Zuma and President Xi expressed desire to deepen the ties between South Africa and China. “A country which never was our coloniser… he is doing to us what we expected those who colonised us yesterday to do”, said Mugabe.
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He attended an African Union summit in the city earlier this year, leading to a huge furore when South Africa declined to arrest him despite a court order.
