China’s new funding for Africa focuses on stronger supply chains, industrial tie-ups: Premier

By Riyaz ul Khaliq

ISTANBUL (AA) – China will focus on strengthening supply chains and industrial tie-ups besides providing military aid to African nations as part of around $50 billion in funding over the next three years.

“China and Africa enjoy great industrial complementarity,” Premier Li Qiang told nearly 1,000 business leaders from Africa and China in Beijing on Friday.

Li said Beijing was “keen to deepen supply chain ties and industrial integration with Africa in pursuit of shared benefits and development,” the daily South China Morning Post reported.

The three-day Summit of the Forum on China-Africa Cooperation (FOCAC) comes to an end Friday.

Chinese leader Xi Jinping pledged more than $50 billion in funding to the continent, and also announced elevating ties with all member nations to a “strategic level.”

Announcing the new funding, Xi proposed to work with African nations on implementing China’s global security initiative.

“We will give Africa RMB1 billion yuan ($140.5 million) of grants in military assistance, provide training for 6,000 military personnel and 1,000 police and law enforcement officers from Africa, and invite 500 young African military officers to visit China,” Xi said Thursday.

The Horn of Africa nation of Djibouti has been hosting China’s one overseas military base in Africa since 2017.

Xi said under new funding, Chinese and African militaries will conduct joint military exercises, training and patrol, carry out an “action for a mine-free Africa,” and jointly ensure the safety of personnel and projects.”

In the past 22 years since 2000 when FOCAC was established, China has built some 100,000 kilometers (62,137 miles) of highways and 10,000 kilometers (6,213 miles) of railways in Africa.

Besides, China built over 200 schools, over 130 hospitals, nearly 100 ports as well as 50 stadiums on the continent.

According to the Boston University Global Development Policy Center database, Chinese lenders provided 1,306 loans amounting to $182.28 billion to 49 African governments and seven regional borrowers from 2000 until last year.

Beijing also founded the China-Africa Development Fund in 2006.