{"id":51372,"date":"2024-09-05T13:31:01","date_gmt":"2024-09-05T13:31:01","guid":{"rendered":"https:\/\/new.igihe.com\/china-earmarks-over-50-billion-for-africa-s-growth\/"},"modified":"2024-09-07T16:25:33","modified_gmt":"2024-09-07T16:25:33","slug":"china-earmarks-over-50-billion-for-africa-s-growth","status":"publish","type":"post","link":"https:\/\/new.igihe.com\/english\/china-earmarks-over-50-billion-for-africa-s-growth\/","title":{"rendered":"China earmarks over $50 billion for Africa\u2019s growth"},"content":{"rendered":"

\u201cThe friendship between China and Africa transcends time and space, surmounts mountains and oceans, and passes down through generations,\u201d said Xi. <\/p>\n

He noted that the relationship between the two regions has evolved over nearly seven decades and is now at its strongest point in history.<\/p>\n

The financial package will be disbursed to support key sectors in Africa, including infrastructure, agriculture, industry, health, and education. <\/p>\n

\u201cThis financial support will not only enhance Africa\u2019s industrial capacity but will also provide tangible benefits to millions of ordinary Africans,\u201d Xi stated.
\nThe initiative is seen as a major step forward in China\u2019s commitment to Africa\u2019s development and modernization.<\/p>\n

One of the most significant aspects of the support package is China\u2019s commitment to opening its markets further to African products. Xi announced that least-developed countries with diplomatic ties to China, including 33 African nations, will receive zero-tariff treatment for all tariff lines.<\/p>\n

\u201cThis will help turn China\u2019s big market into Africa\u2019s big opportunity,\u201d Xi emphasized. This move is expected to provide a major boost to African agricultural exports and deepen economic ties between the two regions.<\/p>\n

\"Rwanda's<\/figure>\n

Xi\u2019s also highlighted the importance of infrastructure development in Africa\u2019s modernization journey. As part of the multibillion financial support, China will carry out 30 connectivity projects across the continent, aimed at improving transport links, boosting trade, and fostering regional integration.<\/p>\n

\u201cTogether, we are building a network of connectivity that will benefit future generations,\u201d Xi said. This commitment aligns with Africa\u2019s broader goal of achieving sustainable development through enhanced connectivity and cooperation.<\/p>\n

In terms of technology and industrialization, China will work with Africa to create digital technology cooperation centers and launch 20 digital demonstration projects across the continent. These initiatives are intended to help Africa embrace the ongoing industrial revolution and foster inclusive economic growth.<\/p>\n

In addition, China intends to focus on environmental sustainability by establishing clean energy projects to promote biodiversity conservation and disaster prevention thereby setting a hallmark of modernization in the new era of a low-carbon future.<\/p>\n

According to Xi, various medical personnel will be sent to Africa and work with the continent to establish joint medical centers. These efforts will enhance Africa\u2019s healthcare capacity, particularly in combating diseases such as malaria. <\/p>\n

Xi also reaffirmed China\u2019s support for the development of the Africa Centers for Disease Control and Prevention, which will play a crucial role in strengthening the continent\u2019s public health systems.<\/p>\n

\"The<\/figure>\n

Security and peace, described as an essential component of modernization, will also be highly prioritized in the next three years to create a stable environment for development and modernization<\/p>\n

China and Africa, together account for one-third of the world\u2019s population. They are therefore poised to play a critical role in shaping global modernization.<\/p>\n

\u201cWithout our modernization, there will be no global modernization,\u201d President Xi declared. <\/p>\n

As clear as it seems, this partnership between China and Africa is not only aimed at addressing historical injustices but also at creating a more just and equitable global order.<\/p>\n

Xi criticized the Western approach to modernization, which he argued has inflicted immense suffering on developing nations. Instead, he championed a new path, in which countries like China and African nations can pursue their own models of modernization based on their unique national conditions. <\/p>\n

\u201cModernization is an inalienable right of all countries,\u201d Xi said, underscoring the importance of inclusivity and mutual respect in the modernization process.<\/p>\n

This multi-billion financial support reflects China\u2019s broader vision of an all-weather China-Africa community with a shared future. It is a vision that seeks to foster deeper cooperation, promote economic growth, and ensure that no country or region is left behind in the global modernization journey. <\/p>\n

As Xi poignantly noted, \u201cLet us rally the more than 2.8 billion Chinese and African people into a powerful force on our shared path toward modernization.\u201d<\/p>\n

With this bold commitment, China and Africa are embarking on a new chapter of cooperation, one that promises to yield significant benefits for both regions. The shared journey toward modernization is set to bring about lasting changes that will shape the future of both China and Africa for generations to come.<\/p>\n

\"President<\/figure>\n

Diomaye Faye, the outgoing co-chair of FOCAC will be succeeded by the President of Congo Brazaville , Denis Sasoubguesso.
\nSpeaking at the ceremony, he thanked Xi for the partnership actions and contribution to Africa\u2019s development including assistance in the fight against Covid-19 and contribution to the construction of CDC headquarters among others. <\/p>\n

Since its inception, FOCAC has convened several key sessions: the inaugural meeting in Beijing in October 2000, followed by sessions in Addis Ababa, Sharm El Sheikh, and Johannesburg. The 2021 summit was conducted virtually due to restrictions of the Covid 19 pandemic.<\/p>\n","protected":false},"excerpt":{"rendered":"

China has pledged RMB360 billion (approximately USD 50.7 billion) in financial support to Africa, in the next three years to improve the stage for modernization and cooperation between the two regions.<\/p>\n

In a keynote address delivered by President Xi Jinping at the opening ceremony of the Forum on China-Africa Cooperation (FOCAC) Summit in Beijing on September 5, 2024, the Chinese leader outlined a shared vision for the future of China-Africa relations, highlighting the deep bond between the regions and their commitment to achieving modernization together.<\/p>\n","protected":false},"author":131,"featured_media":2000074525,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[75],"byline":[3139],"hashtag":[],"class_list":["post-51372","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-homenews","byline-sam-k-nurunziza"],"bylines":[{"id":3139,"name":"Sam K Nurunziza","slug":"sam-k-nurunziza","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":null}],"contributors":[{"id":3139,"name":"Sam K Nurunziza","slug":"sam-k-nurunziza","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":null}],"featured_image":{"id":2000074525,"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/whatsapp_image_2024-09-05_at_12.38_50_pm.jpg","alt":"","caption":"","mime_type":"image\/jpeg","width":0,"height":0,"sizes":{"thumbnail":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/whatsapp_image_2024-09-05_at_12.38_50_pm.jpg","width":1,"height":1},"medium":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/whatsapp_image_2024-09-05_at_12.38_50_pm.jpg","width":1,"height":1},"medium_large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/whatsapp_image_2024-09-05_at_12.38_50_pm.jpg","width":1,"height":1},"large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/whatsapp_image_2024-09-05_at_12.38_50_pm.jpg","width":1,"height":1},"full":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/whatsapp_image_2024-09-05_at_12.38_50_pm.jpg","width":0,"height":0}}},"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/51372","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/131"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=51372"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/51372\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media\/2000074525"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=51372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=51372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=51372"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=51372"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=51372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}