China Pledges 360 Billion Yuan Financial Aid Package To Africa
China has pledged 360 billion yuan, about $51 billion, financial aid package to Africa. That was reported by various media.
The pledge is said to have been made by China's President Xi Jinping on September 5, 2024 (local time), during a speech at the China-Africa Summit 2024 in Beijing.
Reportedly, the 360 billion yuan aid package will be available over the next 3 years, and entail the following main parts:
210 billion yuan (about $30 billion) in credit facilities
80 billion yuan (about $11 billion) in different types of assistance, and
70 billion yuan (about $10 billion) in investments by Chinese firms promoted by the government of China
China is said to have also pledged to help create 1 million jobs in Africa over the same period.
____________________________
© 2015 - 2024 Africauptodate. All Rights Reserved