|
China to double aid to Africa by 2009
2006-11-04
China announced Saturday it will double aid to Africa by 2009 and provide $5 billion in preferential loans and credits as a summit of China and about 50 African countries kicked off in the Chinese capital. Chinese President Hu Jintao made the pledge at the start of the meeting at Beijing's Great Hall of the People, which has been touted as the biggest diplomatic event hosted by China. Hu told the meeting China will double aid to Africa by 2009 from the 2006 level, and provide $3 billion in preferential loans and $2 billion in preferential buyer's credits in the next three years, state-run Xinhua News Agency reported. The president also said China will set up a development fund reaching $5 billion to encourage Chinese companies to invest in Africa. It will also cancel interest-free government loans that matured at the end of 2005 and owed by heavily indebted poor countries and least developed countries in Africa that have diplomatic relations with China. The event is being attended by leaders and senior representatives of 48 countries that have diplomatic ties with China, according to Xinhua. Beijing said earlier it has also issued invitations to five others that recognize Taiwan. China considers the self-ruled island a renegade province that should be reunified with China, and refuses to set up official diplomatic links with any country that does not accept Beijing as the sole government. Analysts say China has strengthened relations with African countries in recent years mainly because it is keen to secure supplies of the continent's natural resources to fuel its fast-expanding economy. It also wants to isolate Taiwan diplomatically and win votes in the United Nations, they say. China's policy to promote trade even with countries accused of human rights violations has been criticized by rights groups, which say Beijing is propping up those governments at a time when Western countries are trying to pressure them. China says its policy is not to interfere in other countries' internal affairs. It has increased trade with Africa by about 30 percent a year since 2000. Trade between China and Africa is expected to top $50 billion this year, according to Chinese media.
| 
