BEIJING, CHINA – In a significant move to strengthen China-Africa ties, Chinese President Xi Jinping announced a monumental $51 billion financing package for African countries at the Forum on China-Africa Cooperation (FOCAC) on Thursday. The new funding aims to accelerate infrastructure development and bolster economic cooperation across the continent.
President Xi outlined that the package includes a combination of loans and various forms of assistance, alongside the commitment to undertake 30 major infrastructure projects designed to enhance connectivity throughout Africa. These projects are expected to improve transportation, communication, and trade, further integrating African economies into the global market.
In addition to the substantial financing, China has also pledged US$280 million in food aid to help alleviate hunger and malnutrition in regions grappling with food insecurity. President Xi emphasized that the food aid initiative is part of China’s broader commitment to addressing humanitarian needs in Africa, where millions face food shortages exacerbated by climate change and conflict.
Moreover, in a notable gesture of military cooperation, Xi announced US$140 million in military aid to African nations. This military assistance aims to support African countries in maintaining regional stability, peacekeeping efforts, and counter-terrorism initiatives, further strengthening China-Africa security partnerships.
President Xi stresses China’s commitment to fostering a “shared future” with Africa, highlighting that the new funding package is a continuation of Beijing’s long-standing support for the continent’s development. With Africa’s growing importance in global geopolitics and economics, this comprehensive package marks a deepening of the China-Africa relationship and signals China’s strategic interest in promoting sustainable growth and stability in Africa.
As China continues to expand its influence through such large-scale investments, the $51 billion financing pledge is set to transform the economic landscape of Africa, providing crucial resources to address infrastructure gaps and elevate Africa’s role in the global economy.
