Chinese President Jinping Announces New $60bn Support For Africa

Chinese President Jinping Announces New $60bn Support For Africa

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Post Views: 460 African Development Bank (AfDB) President, Dr. Akinwunmi Adesina, on Monday in China tweeted of a new $60bn support for the African co...

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African Development Bank (AfDB) President, Dr. Akinwunmi Adesina, on Monday in China tweeted of a new $60bn support for the African continent by President Xi Jinping of China at the two-day Forum on China–Africa Cooperation (FOCAC 2018) Summit which opened in Beijing, the Chinese capital.
Adesina, who led a delegation to the forum, in the tweet, described the speech as “rousing” and the support “very significant.”
The $60bn focuses on 8 areas including infrastructure connectivity on the continent, trade facilitation, health, and peace and security, among others.
The theme of this year’s summit, according to a statement by the bank said the summit being chaired by Chinese President Xi Jinping, is: “China and Africa: toward an even stronger community with a shared future through win-win cooperation.”
On Tuesday, September 4, 2018, Adesina will participate in the High-level Dialogue between Chinese-African Leaders and Business Communities and the 6th Conference of Chinese and African Entrepreneurs. He will also join a panel session of public and private sector leaders discussing the topic, “Advancing Industrial Cooperation for Win-Win Development”.
He will use the opportunity offered by the summit to engage with key international partners of the Bank – senior officials of the Chinese government and Chinese-African business and commercial leaders. He will also meet senior Chinese officials in the banking sector.
The engagements will offer the chance to promote AfDB’s “High 5 priorities for Africa and to pitch the investment case for Africa. The Bank is planning a landmark investment marketplace event in November 2018 in Johannesburg, South Africa to attract investment and capital for development projects in Africa.”
The Africa Investment Summit (AIF) will convene project sponsors, borrowers, lenders and investors, necessary for accelerating investments in Africa. The three-day transactional event will unite global pension funds, sovereign wealth funds and other investors. The AIF will also bring together a network of financial institutions with instruments to de-risk the selected investment opportunities.

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