China’s Xi Jinping pledges $50 Billion to Africa, expands military ties
China’s President Xi Jinping has committed $50 billion in financial support and promised increased military cooperation to Africa over the next three years.
Speaking at the Forum on China-Africa Cooperation in Beijing, Xi outlined his vision for strengthening ties with the continent, which he declared is experiencing its most favourable period in history.
In his 10-minute speech, Xi outlined ten key areas for future cooperation, including infrastructure connectivity, trade, security, and green development.
The focus on green technology aligns with China’s broader goal to expand its export of green technologies, reflecting its evolving strategic interests. Xi proposed elevating diplomatic relations with all African nations to a strategic partnership level, a move he believes will mark the apex of China-Africa relations CNN first reported.
Some context
The substantial $50 billion pledge includes a mix of credit funds, assistance, and private investment from Chinese firms.
This new commitment surpasses the $30 billion pledged three years ago and, while lower than the $60 billion pledged in 2015 and 2018, it aims to reaffirm China’s dedication to the continent. In addition, Xi announced another $280 million in aid, split evenly between military and food assistance.
The $140 million allocated for military aid is the largest sum earmarked for this purpose at the Forum to date, signalling a heightened focus on security in the bilateral relationship.
The Forum, which includes leaders such as South Africa’s Cyril Ramaphosa, Kenya’s William Ruto, and Nigeria’s Bola Tinubu, comes at a critical juncture. The event highlights China’s ongoing strategic interest in Africa amid increasing competition from the US and Europe. Xi’s speech and pledges are seen as part of China’s effort to counter Western influence and secure its position as a rising global power.
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