China disburses $30bn to Africa

The most populous nation in East Asia, China has disbursed nearly $30 billion to assist African countries in different projects as its pledges to be the most reliable partner in improving agricultural development and industrial development in the continent.

China in 2015 announced a $60 billion funding support for Africa at the sixth Summit of the forum on China-Africa cooperation that was held in Johannesburg, South Africa, in 2015.

The Chinese foreign minister, Wang Yi while addressing journalist on Chinese foreign policy in South Africa said his country would continue to strengthen its relations with Africa and support the continent, even under harsh condition.

Since the Johannesburg Summit, $60 billion was set aside by the government to support Africa and nearly half of it has already been disbursed or arranged.

He said his country has already set aside the sum of $60 billion for development in Africa and had already given out nearly half of the sum.

“ Since the Johannesburg Summit, $60 billion was set aside by the government to support Africa and nearly half of it has already been disbursed or arranged,” he said.

“China and Africa are a closely knit community with a shared future. The cooperation is mutually between two brothers no matter how the international situation or world economy may evolve, there is no weakening in China’s support for Africa,” he added.

He noted that what distinguishes China-Africa cooperation is that China always keeps its words. The foreign minister reiterated that some of the projects that had already been undertaken since the Johannesburg Summit included the completion of the Addis Ababa-Djibouti railway line.

China disburses $30bn to Africa – The Herald https://t.co/YMebVT9XgK

— Africa (@Africa24×7) March 9, 2017

According to him, completion of the Mombasa-Nairobi railway was also expected soon and some projects were underway in Congo and Tanzania, among other countries.

He said the China-Africa relations gave the continent an opportunity to achieve sustainable development.