China pledges $60 billion to African development

The Summit is set to be a memorable event aimed at furthering cooperation a union between China and Africa.

In his remarks, the statement quoted President Jinping as describing Nigeria as a very important ally of China in Africa, saying that the two countries needed to boost their bilateral relations, for the good of their citizens.

The theme flight is meant to publicize the upcoming “Johannesburg Summit of the Forum on China-Africa Cooperation”.

The money will target 10 areas, including industrialisation, infrastructure, financial services, poverty reduction, and peace and security.

He said China was committed to the principles of win-win situation that would promote growth and development of both parties.

“In addition, the Government of the People’s Republic of China has awarded the Government of Zimbabwe a grant in the amount of US$62 485 356 for the construction of the Parliament Building, the NatPharm warehouse and other projects”, said Cde Chinamasa.

“China is greatly concerned about the poor harvest caused by El Nino in many African countries and will provide 1bn renminbi yuan ($156mn) worth of emergency food aid to the affected countries”, he said. However, China has now assured that the country will train 200,000 African technicians along with enabling some of them to go to China.

“We have enjoyed China’s support for development, we therefore rededicate our commitment to the relationship with China, ” Mugabe said. As a result, many African countries have forged deep diplomatic ties with Beijing and praised China’s authoritarian model of economic development.

The Chairperson of African Commission, Dr Nkozasana Zuma, also commended China for its assistance to the continent.

“There’s not a lot of transparency in how it’s broken down”, she said.

Zuma said that FOCAC was formed in 2000 few years after the collapse of apartheid regime in South Africa.

The Johannesburg Summit of the Forum on China-Africa Cooperation will take place in South Africa from December 4 to December 5, the second time it will be held after its Beijing debut 2006 and also the first time it will be held in Africa.

To that end, Xi suggested that China and African countries stick to equality-based and win-win cooperation, strike a right balance between principles and profits, and jointly build a community of common destiny. Liu added that the independence and global reach of Africa will be reinforced.