China pledges $60bn to develop Africa

December 4, 2015, 10:42am


Much of the financial assistance announced by President Xi is likely to focus on infrastructure projects. Photo: AFP

BBC News

China has announced $60bn (£39bn) of assistance and loans for Africa to help with the development of the continent.,p> President Xi Jinping said the package would include zero-interest loans as well as scholarships and training for thousands of Africans.

The Chinese leader made the announcement at a major summit between China and Africa in Johannesburg.

South Africa's President Jacob Zuma welcomed the deepening partnership with Africa's biggest trading partner.

He said that both China and the African continent made up a third of the world's population, bringing it with it the possibility of new markets and production possibilities.