China pledges $50.7 billion to Africa, but does not provide debt relief as requested

From Investing.com: 2024-09-07 06:50:33

China pledged $50.7 billion over three years to Africa, but fell short of debt relief requests. FOCAC, launched in 2000, aims to revive the Silk Road and counter competition. New funds will support 30 infrastructure projects to bridge Africa’s $100 billion annual deficit. China also vowed clean energy initiatives and co-operation on nuclear technology. Some concerns remain about debt transparency and terms, while others praised the commitments. Tanzanian President Samia Suluhu hailed the strong China-Africa relations.



Read more at Investing.com: China stops short of Africa debt relief as pledges more cash By Reuters