The financing of the country of the Black continent will receive in the next three years
Chinese President XI Jinping has pledged to the development of African countries 60 billion. The Chinese will forgive the some of the poorest Nations of the continent, outstanding loans and debts issued by intergovernmental, interest-free Beijing loans.
Speaking at the opening ceremony of the Forum of cooperation between China and Africa in Beijing, XI Jinping stated that China, “investing in Africa, not pursuing their own selfish political interests.” He also rejected the criticism of some analysts, given that the actions of Beijing can exacerbate a looming African debt crisis. According to him, most justly regarded the success of China-Africa cooperation can only do the Chinese and Africans, according to the Wall Street Journal.
The financing of the country of the Black continent will receive in a period of three years. Investment, in particular, will include $ 35 billion in grants, loans and lines of credit. Another 10 billion will be created China-Africa loan Fund development projects and 5 billion will allocate for stimulating the import trade of Africa. The remaining $ 10 billion, according to the calculations of Beijing, will go to African countries from, Chinese companies. Another step will be the release in China of the bonds of the African financial institutions.