China reaffirms commitment to Africa, pledges $66b for projects

China-Africa ties are in their best period’, Xi declares at summit with African leaders

- Lim Min Zhang

Chinese President Xi Jinping has pledged an additional 360 billion yuan (S$66 billion) to African countries, for initiatives ranging from infrastructure to security cooperation, as Beijing reaffirms its commitment to the largest bloc of developing countries despite an economic slowdown.

China-Africa relations are in their "best period in history", Mr Xi declared on Sept 5 at the opening ceremony of the top-level Forum on China-Africa Cooperation, which was attended by more than 50 African leaders.

He called for elevating the relationship to an “all-weather ChinaAfrica community with a shared future in the new era", to applause at the Great Hall of the People in Beijing.

"China and Africa account for one-third of the world's population. Without our modernisation, there will be no global modernisation," Mr Xi said, adding that Beijing will provide 360 billion yuan of financial support in the next three years.

This is meant for initiatives in 10 areas including "high-quality" Belt and Road Initiative infrastructure projects, expanding market access to China and technology collaboration, as well as training and exchanges for military and law enforcement personnel.

The three-day summit is China's largest diplomatic event since the Covid-19 pandemic, as it seeks to cement its growing political and economic ties with African countries. It is co-chaired by Mr Xi and Senegal President Bassirou Diomaye Faye.