Xi says China to implement eight major initiatives with African countries
03 September, 2018, 21:25 | Author: Sara Gill
The offer of more funds comes after a pledge of a similar amount at the previous Forum on China-Africa Cooperation (FOCAC) in South Africa three years ago.
China will extend a total of 60 billion US dollars of financing to Africa, Chinese President Xi Jinping announced Monday.
"It is through platforms like [this forum] that we should work to balance the structure of trade between Africa and China", Ramaphosa said.
It is the only African state to maintain diplomatic ties with Taiwan.
At the last three-yearly gathering in Johannesburg in 2015, Xi announced $60 billion of assistance and loans for Africa. That has led to high debt risks in countries like Djibouti - where China recently opened its first overseas military base - and Zambia.
China's growing clout in Africa is also drawing criticism that more African countries are getting caught in a Chinese debt trap.
Beijing has poured billions in its Belt and Road initiative, a development and investment scheme focused on promoting trade connectivity that places China at the center.
Speaking to Bongani Bingwa, EWN reporter Clement Manyathela who is in China says Ramaphosa is on a charm offensive when he was hosted at the state house in the great hall by Xi Jumping.
President Emmerson Mnangagwa has left for Beijing, China where he has been invited by his Chinese counterpart President Xi Jinping to attend the 7 Forum on China-Africa Cooperation (FOCAC) Summit.
"I would expect African leaders to put on the table the opportunity that arises from building the African continent's manufacturing capability in a way that is in the best interests of the African continent but benefits china as well", Tshabalala said Saturday.
China has provided aid to Africa since the Cold War period, but Beijing's presence in the region has grown exponentially with its emergence as a global trading power. It has since dipped and previous year continued a slow recovery to $170 billion. China's investments in Africa have also grown significantly.
Xi said the partnership should "increase political and policy dialogue, enhance mutual understanding and support and boost coordination on major worldwide and regional issues [to] enable us to uphold our common interests". He also flagged a China-Africa "green envoys programme" that would muscle Africa's capacity for environmental management, pollution prevention and control, as well as green development.
Ghana and a dozen others signed agreements before the start of the summit for China to build more roads, develop the aviation sector, improve healthcare delivery and many more projects in their countries.
Stevens said Beijing's decision not to hike loans to Africa said it shouldn't be interpreted as a step back in relations.
Take Sri Lanka, which last year had no choice but to grant China a 99-year lease for a Belt and Road Initiative port, after it failed to attract enough business to make its loan payments.
During his visit to Uganda in July Prime Minister Narendra Modi said India's partnership now includes implementation of 180 Lines of Credit worth about Dollars 11 billion in over 40 African countries.
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