Chinese President Xi Jinping announced a 10-point action plan to strengthen China’s partnership with Africa. This plan will span the next three years. It focuses on key areas like industrialization, agriculture, trade, and investment. It also includes infrastructure development and increasing Africa’s access to the Chinese market. The plan will launch 30 infrastructure projects and 1,000 development initiatives to improve lives in Africa.
At the 9th Forum on China-Africa Cooperation (FOCAC) summit in Beijing, President Xi also pledged $50 billion (Sh6.5 trillion) to Africa. This package includes a $29.4 billion credit line, $11.2 billion in aid, and $9.8 billion in investments from Chinese companies. China will also support African countries in issuing Panda Bonds to boost economic growth.
President Xi stressed that modernization should focus on reducing poverty, creating jobs, and promoting inclusive growth. He said modernization is a right for all countries and should be fair and equitable. With China and Africa representing one-third of the world’s population, their modernization is vital to global progress.
The 10-point plan also aims to improve governance, share knowledge, and provide leadership training. It will offer zero-tariff treatment to Africa’s Least Developed Countries and expand market access for their agricultural products. The plan emphasizes industrial cooperation and the development of digital technology.
China will implement 30 infrastructure projects in Africa. These projects will support the Africa Continental Free Trade Area and promote Belt and Road cooperation. In the health sector, China will create medical alliances, send medical personnel, and support Africa’s pharmaceutical industry.
