Symbol copyright Getty Images Image caption China’s investments come with no “political strings”, the president says
China doesn’t put money into “vanity initiatives” in Africa and is helping the continent build its infrastructure, President Xi Jinping has said.
He pledged an extra $60bn (£42bn) for the continent’s building, as he opened a summit with African leaders in Beijing to boost relations.
China is the single biggest bilateral financier of infrastructure in Africa.
However critics warn that African nations have been going into unsustainable levels of debt with the Asian giant.
Mr Xi admitted there was a need to look on the industrial viability of a few initiatives and make co-operation more practicable.
The $60bn pledge is over and above the $60bn China presented to Africa at the same summit in 2015 in South Africa’s main city, Johannesburg.
Debt from China’s hobby-free loans, due by means of the tip of 2018, could be written off for a few negative African states, Mr Xi mentioned.
China might also arrange a peace and security fund and would continue to supply free military help to the African Union, he added.
China lent around $125bn to Africa among 2000 and 2016, in line with information compiled by way of the China-Africa Research Initiative at Washington’s Johns Hopkins College School of Complex World Studies.
