China to provide $60B in financial support to Africa, Xi says

BY

MENA

-

Mon, 03 Sep 2018 - 10:09 GMT

BY

MENA

Mon, 03 Sep 2018 - 10:09 GMT

FILE PHOTO: Chinese President Xi Jinping claps after his speech as China's new Politburo Standing Committee members meet with the press at the Great Hall of the People in Beijing, China October 25, 2017. REUTERS/Jason Lee/File Photo

FILE PHOTO: Chinese President Xi Jinping claps after his speech as China's new Politburo Standing Committee members meet with the press at the Great Hall of the People in Beijing, China October 25, 2017. REUTERS/Jason Lee/File Photo

BEIJING - 3 September 2018: China will provide $60 billion in financial support to Africa, President Xi Jinping said on Monday at the opening of a major China-Africa summit.

The support will be provided in the form of government assistance as well as investment and financing by financial institutions and companies, Xi said in a speech carried live on state television.

China will also expand its imports from Africa, especially for resources products, and will facilitate African financial institutions' bond issuances in China, Xi added.

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