Xi Pledges $50 Billion for Africa to Shore Up China’s Influence.
President Xi Jinping unveiled a raft of economic sweeteners for Africa, with commitment to strengthening its sway over a continent that’s key to his geopolitical ambitions.
Xi vowed to provide $50 billion in financial support at China-Africa Cooperation held in Beijing. That included a pledge to triple China’s credit lines to $30 billion, despite an economic slowdown.
Beijing’s commitment marked a 25% up tick from the last forum, when the Asian nation’s financial pledge to the content fell for the first time in over a decade. The Chinese guaranteed greater support for training African military and government personnel, deepening ties
“This is not the kind of pledge that is going to finance large-scale mega infrastructure projects in Africa,” said Eric Olander, co-founder of the China-Global South Project, but the amount “does enough to preserve the narrative that China is as committed to Africa as it’s been in the p
President Xi Jinping unveiled a raft of economic sweeteners for Africa, with commitment to strengthening its sway over a continent that’s key to his geopolitical ambitions.
Xi vowed to provide $50 billion in financial support at China-Africa Cooperation held in Beijing. That included a pledge to triple China’s credit lines to $30 billion, despite an economic slowdown.
Beijing’s commitment marked a 25% up tick from the last forum, when the Asian nation’s financial pledge to the content fell for the first time in over a decade. The Chinese guaranteed greater support for training African military and government personnel, deepening ties
“This is not the kind of pledge that is going to finance large-scale mega infrastructure projects in Africa,” said Eric Olander, co-founder of the China-Global South Project, but the amount “does enough to preserve the narrative that China is as committed to Africa as it’s been in the p
2 months ago
