China to provide $60 bln in financial support to Africa, Xi says

World
By Reuters
Chinese President Xi Jinping delivers a keynote speech themed "walk together towards prosperity" at the opening ceremony of the High-level Dialogue Between Chinese and African Leaders and Business Representatives as well as the Sixth Conference of Chinese and African Entrepreneurs in Beijing, capital of China, Sept. 3, 2018. (Xinhua/Li Xueren)

BEIJING - China will provide $60 billion in financial support to Africa, President Xi Jinping said on Monday at the opening of a major China-Africa summit.

The support will be provided in the form of government assistance as well as investment and financing by financial institutions and companies, Xi said in a speech carried live on state television.

China will also expand its imports from Africa, especially for non-resources products, and will facilitate African financial institutions’ bond issuances in China, Xi added. 

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