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China Announces Debt Cancellation at African Summit


China Announces Debt Cancellation at African Summit

Jubilee USA

WASHINGTON - China's President Xi Jingping announced a $60 billion debt relief and financing package to African countries during a China-Africa summit. President Jingping said China would cancel outstanding debt from African countries due this year but did not specify an amount. The package, announced during the Forum on China-Africa Cooperation in Johannesburg, South Africa, includes grants, zero-interest loans and other concessional financing.



That and: 10. China's Infrastructure Footprint in Africa
(see: http://www.ide.go.jp/English/Data/Africa_file/Manualreport/cia_10.html)
China is presently involved in infrastructure project in 35 African countries. A concentration of projects is to be found in Angola, Nigeria and the Sudan. However, China is planning a new range of projects in other countries, especially in the DRC. The country’s activities have been divided fairly evenly among two main sectors: power generation (especially hydropower), and transport (especially railroads), followed by ICT sector (mainly equipment supply). Water projects attracted the least amount of activity.
A more extensive profile of Chinese funded projects in each of the major infrastructure sectors is provided below. UNQUOTE

Of course we are no slouches and are involved in Africa too:
See: http://tinyurl.com/pt7ro4h