On Thursday, September 5, Chinese President Xi Jinping announced that China will provide over $50 billion in financial support to Africa over the next three years. Speaking at the China-Africa forum in Beijing, where more than 50 African leaders and the UN Secretary-General Antonio Guterres were present, Xi expressed China’s commitment to strengthening ties with Africa, stating that their relationship is in its “best period in history.”
The Chinese leader emphasized plans to boost cooperation in key areas such as infrastructure, agriculture, and trade. Xi pledged that $50.7 billion will be offered, with more than half coming in the form of loans. Additionally, $11 billion will be provided as various types of assistance, and $10 billion will be directed toward investments by Chinese companies.
China is also committed to helping create one million jobs in Africa and providing $141 million in military assistance. As part of this, China will train 6,000 military personnel and 1,000 police officers from African nations.
United Nations Secretary-General Guterres praised the growing relationship between China and Africa, highlighting the potential for collaboration in renewable energy. He also acknowledged China’s success in poverty reduction, noting that it offers valuable lessons for Africa.
China remains Africa’s largest trading partner, with a keen interest in the continent’s natural resources such as copper, gold, lithium, and rare earth minerals.
