At the China-Africa Forum held in Dakar, Senegal earlier this week, China pledged one billion doses of Covid-19 vaccines to African countries, however Xi Jinping will cut China’s lending to Africa by a third over the next three years.

The information comes from the triennial Forum on China-Africa Cooperation (FOCAC) which was held in Dakar, Senegal earlier this week.

In a video conference address, Chinese President Xi Jinping pledged $ 40 billion to African countries in investments, lines of credit, trade finance and special drawing rights.

Although this represents a reduction from the $ 60 billion pledged at the previous two FOCAC summits, Xi stressed his commitment to what he called a “win-win” relationship.

Covid-19 vaccine support

In addition, the Chinese president has pledged one billion doses of the Covid-19 vaccine.

“China will provide Africa with one billion doses of additional vaccines, including 600 million in the form of donations and 400 million in other forms such as the establishment of vaccine production units”, declared the Chief. of the Chinese state.

Meanwhile, several countries in Africa, including Ghana, have already received millions of doses of Chinese vaccines, through the COVAX initiative.

China also pledged to step up cooperation on solar, wind and other renewable energy investments and simplify procedures to increase agricultural imports from African states.

Chinese loan commitments to Africa peaked in 2016 at $ 29.5 billion, but fell to $ 7.6 billion in 2019, according to the latest data, compiled by researchers of Johns Hopkins University.

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Source: AfrikPage