China to extend over $15b in aid to Africa, share technology BEIJING (REUTERS) - Chinese Premier Li Keqiang unveiled extra aid for Africa totalling at least US$12 billion (S$15 billion) on Monday, and offered to share advance technology with the continent to help with development of high-speed rail, state news agency Xinhua reported. Mr Li pledged the additional funding in a speech at the Organisation of African Union headquarters in the Ethiopian capital, Addis Ababa. China will increase credit lines to Africa by US$10 billion and will boost the China-Africa Development Fund by US$2 billion, bringing it to a total of US$5 billion, Xinhua said. It provided no details of the timeframe. Mr Li depicted a dream that all African capitals are connected with high-speed rail, so as to boost pan-African communication and development, the report said. As China has advanced technologies in this area, Mr Li said China was ready to work with Africa to make this dream come true. China will also offer US$100 million in aid for wildlife protection, he added. To continue reading, log in if you are a subscriber LOG IN If you are not a subscriber, you can get instant, unlimited access here - See more at: straitstimes/news/world/more-world-stories/story/china-extend-over-15b-aid-africa-share-technology-20140505#sthash.aL2iaASU.dpuf
Posted on: Mon, 05 May 2014 17:25:04 +0000
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