(VOVWORLD) - Chinese President Xi Jinping pledged on Thursday to step up China's support for Africa with funding of nearly 51 billion USD over three years, backing for more infrastructure projects, and the creation of at least 1 million jobs.
PresidentXi announced the major commitments at the Forum on China-Africa Cooperation Summit in Beijing on Thursday. About 30 billion USD will be disbursed through credit lines and at least 10 billion USD in fresh investment by Chinese companies.
He said China will help Africa build “green growth engines,” narrow the gap in energy accessibility, and jointly push for the global transition to green and low-carbon development.
President Xi said that China implement 10 major partnership actions with Africa to promote modernization. “China wants to unilaterally expand its market for African countries. China has decided to reduce tariffs to 0% for all products from the least developed countries that have diplomatic relations with China, including 33 African countries.”
In addition to economic commitments, the Chinese President also announced new security-military cooperation plans with African countries, including granting 140 million USD in military assistance; training 6,000 military personnel and 1,000 police and law enforcement officers for Africa; inviting 500 young African officers to visit China; and conducting joint military exercises, training, and patrols.
President Xi proposed upgrading bilateral relations between China and all African countries having diplomatic ties with China to strategic relations, and elevating China-Africa relations to a China-Africa Community with a shared future in the new era.
This year's China-Africa Cooperation Summit is the first direct meeting between Chinese and African leaders in six years and the largest diplomatic event China has organized since the COVID-19 pandemic.