From China, with love: It’s a $60 billion package of aid to Africa

  • September 4, 2018

It was the 2018 Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) that opened on Monday, September 3rd, 2018, where the grand announcement was made. Chinese Premier Xi Jinping declared a $60 billion package of aid, investment and loans to Africa.

Several echelons from the continent of Africa arrived at the forum, including Ugandan President Yoweri Museveni, his South African counterpart Cyril Ramaphosa and the Nigerian Head of State Muhammadu Buhari.

The theme of the summit is “Towards an even Stronger China-Africa Community with a shared Future.’’

The two-day Summit that has attracted dozens of African Heads of State and Government is to discuss strategic partnership cooperation with China in areas of Trade, Infrastructure as well as Economic Development and Energy among others.

This is the 3rd Heads of State and Government summit bringing together leaders from the African continent and those from China, to take place after the first in 2006 that was held in Beijing, the second in South Africa in 2015 and now the 3rd in Beijing-China.

During the state visit, President Ramaphosa and President Xi witnessed the signing of various Memoranda of Understanding (MoU) and Agreements, including commitments on cooperation in the fields of climate change, water resources, transported related infrastructure and refurbishments to a number of technical and vocational training (TVET) colleges.

Meanwhile, President Yoweri Museveni upon arrival, held bilateral talks with his Kenyan counterpart, President Uhuru Kenyatta who called on him at his residence in Beijing. The two leaders discussed issues of mutual interest between the two countries.

On Monday, Xi outlined eight major initiatives in Africa over the next three years, including plans to establish a China-Africa trade expo, provide $146 million in food aid, extra imports to China from Africa, and a push for green development.

Xi also invited African business leaders to help his country in building the Belt and Road Initiative, an ambitious collection of trade and infrastructure projects involving 68 countries.

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