China’s Funds not For Frivolities in Africa,says President Xi Jinping

China President Xi Jinping
Buy ebooks on health & fitness leaderboard banner.jpg


Chinese President Xi Jinping has told firms that the funds provided by country for Africa are to build infrastructure that can remove development bottlenecks and not for “vanity projects”.


The President while speaking at a  business forum before the commencement  of a triennial China Africa summit on Monday also warned the firms to respect local people and the environment where projects were being executed.


He maintained that their friendship was time-honoured and that China’s investment in Africa came with no political strings attached.


“China does not interfere in Africa’s internal affairs and does not impose its own will on Africa.


“What we value is the sharing of development experience and the support we can offer to Africa’s national rejuvenation and prosperity,” Xi said.


“China’s cooperation with Africa is clearly targeted at the major bottlenecks to development. Resources for our cooperation are not to be spent on any vanity projects but in places where they count the most,” he said.


Xi told business leaders Chinese firms in Africa had to be aware of their social responsibilities and make sure their investments served the community and improved their wellbeing.


“I hope that our entrepreneurs will act to fulfil social responsibilities and respect local culture and tradition,” he said.


“I also hope you will do more in staff training and bettering lives for the local people and will put more emphasis on the environment and resources,” Xi said.


Chinese officials say this year’s summit will strengthen Africa’s role in Xi’s Belt and Road initiative to link China by sea and land with Southeast and Central Asia, the Middle East, Europe and Africa through an infrastructure network modelled on the old Silk Road.

ALSO READ  'Go out En-mass And Vote Candidate of Your Choice'  - Olubadan


Xi said the plan, for which Beijing has pledged $126 billion, would help provide more resources and facilities for Africa and would expand shared markets.


China loaned around 125 billion dollars to the continent from 2000 to 2016, data from the China-Africa Research Initiative at Washington’s Johns Hopkins University School of Advanced International Studies shows.


State media has accused the West of sour grapes over China’s prominent role in Africa and has angrily rejected claims of forcing African countries into a debt trap.


“In terms of cooperation with China, African countries know best,” widely read tabloid the Global Times wrote in an editorial on Monday.


“Western media deliberately portray Africans in misery for collaborating with China and they appear to have discovered big news by finding occasional complaints in the African media about Sino-Africa cooperation,” it said.


Every African country is represented at the business forum apart from eSwatini, self-ruled Taiwan’s last African ally that has so far rejected China’s overtures to ditch Taipei and recognise Beijing.


African presidents in attendance include Nigeria’s Muhammadu Buharu, South Africa’s Cyril Ramaphosa, Egypt’s Abdel Fattah al-Sisi, Zambia’s Edgar Lungu and Gabon’s Ali Bongo.

Sell your eBooks here


This site uses Akismet to reduce spam. Learn how your comment data is processed.