China Pledges $50 Billion to Africa at FOCAC Summit

During the 9th Summit of the Forum on China-Africa Cooperation (FOCAC) in Beijing, Chinese President Xi Jinping announced a pledge of over $50 billion in funding to African nations over the next three years. This funding includes financial support as well as investments through Chinese firms.

Xi Jinping also declared the elevation of strategic ties with all African member nations, emphasizing the historical importance of China-Africa relations. The summit, hosting representatives from nearly 53 African nations, focused on advancing modernization, green development, and common security in collaboration with China.

China’s commitment to Africa’s development was highlighted during the meeting with UN Secretary-General Antonio Guterres, where Xi Jinping expressed China’s willingness to support peace, stability, and prosperity in the region. Over the past 22 years, China has made significant contributions to Africa’s infrastructure and socio-economic development.

Through initiatives like the China-Africa Development Fund, Beijing continues to strengthen its partnership with African nations, aiming to create a shared future for both regions.

Source: Anadolu Agency

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