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China Commits $50 Billion in Financial Support to Africa, Announces President Xi Jinping

by Nelson Ugwuagbo
Xi Jinping

The Chinese leader, President Xi Jinping, has pledged $50billion for development in Africa, including military aids to the continent.

The Chinese leader also pledged another $280 million in aid to African countries while proposing partnership actions to jointly advance modernization with Africa.

President Xi said China appreciates its ties with African nations and that China and Africa should rally their populations together to become a powerful force and write a new chapter in global peace, prosperity, and progress.

According to President Xi, the 10 actions, to be implemented in the next three years, cover areas of mutual learning among civilizations, trade prosperity, industrial chain cooperation, connectivity, development cooperation, health, agriculture and livelihoods, people-to-people and cultural exchanges, green economic development and common security.

To implement the 10 partnership actions, the Chinese government will provide RMB360 billion yuan of financial support through the next three years.

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