{"id":27662,"date":"2018-10-23T15:25:16","date_gmt":"2018-10-23T09:55:16","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=27662"},"modified":"2018-10-23T15:25:16","modified_gmt":"2018-10-23T09:55:16","slug":"xi-offers-60-bn-aid-to-africa","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/xi-offers-60-bn-aid-to-africa\/","title":{"rendered":"Xi offers $60 bn aid to Africa"},"content":{"rendered":"<p><a href=\"https:\/\/www.thehindu.com\/news\/international\/xi-jinping-offers-60-bn-africa-aid-says-no-strings-attached\/article24854910.ece\">Xi offers $60 bn aid to Africa<\/a><\/p>\n<p><strong><u>News<\/u><\/strong><strong>:<\/strong><\/p>\n<ol>\n<li>China\u2019s efforts for Africa\u2019s all round progress through bolstering industry, countering hunger and enhancing security.<\/li>\n<\/ol>\n<p><strong><u>Important Facts:<\/u><\/strong><\/p>\n<p>2. President Xi Jinping announced the fund during the third summit of Forum on China-Africa Cooperation, held in Beijing.<\/p>\n<p>3. The outcome of the summit are:<\/p>\n<ul>\n<li>Eight focal areas across trade, investment, infrastructure financing and aid were highlighted.<\/li>\n<li>Setting up additional economic and trade cooperation zones to promote industrialization in Africa.<\/li>\n<li>Local currency settlements, instead of hard currency usage such as the U.S. dollar, would be encouraged to settle transactions.<\/li>\n<li>African countries will be able to tap new multilateral lenders such as the Asian Infrastructure Investment Bank (AIIB), the New Development Bank (NDB) of the emerging economies, as well as the Silk Road Fund marshaled by China.<\/li>\n<li>Bolstering African security was openly flagged with the energy, transport, telecommunication and cross-water resource tapping as are on China\u2019s radar for next phase of Africa\u2019s infrastructural forays.<\/li>\n<li>Peace and security fund in partnership with Africa will be set up.<\/li>\n<li>50 China-Africa assistance programmes will be launched under the flagship Belt and Road initiative (BRI).<\/li>\n<li>China-Africa \u2018green envoys programme\u2019 to muscle Africa\u2019s capacity for environmental management, pollution prevention and control, as well as green development program.<\/li>\n<li>A China-Africa environmental cooperation center, for research on environmental issues, is announced.<\/li>\n<li>Out of $60 billion that were on offer, For aid, interest-free loans and concessional loans, Credit line Special fund for China Africa Development, Special fund for African importsChina\u2019s also promised support to Africa for achieving \u2018general food security by 2030\u2019.<\/li>\n<li>Chinese support will be extended to the countries in the Sahel region and others bordering the piracy-ridden Gulf of Aden and Gulf of Guinea.<\/li>\n<\/ul>\n<p>4. China has already established a naval base in Djibouti on the edge of the strategic Gulf of Aden, which links the Red Sea and the Arabian Sea.<\/p>\n<p>5. China\u2019s ties with Africa were \u2018upgraded\u2019 three years ago during the Johannesburg\u2019s Summit of the Forum in which China had announced 10 major plans for \u2018in depth\u2019 development of Africa.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Xi offers $60 bn aid to Africa News: China\u2019s efforts for Africa\u2019s all round progress through bolstering industry, countering hunger and enhancing security. Important Facts: 2. President Xi Jinping announced the fund during the third summit of Forum on China-Africa Cooperation, held in Beijing. 3. The outcome of the summit are: Eight focal areas across&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/xi-offers-60-bn-aid-to-africa\/\">Continue reading <span class=\"screen-reader-text\">Xi offers $60 bn aid to Africa<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-27662","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704769371},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/27662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=27662"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/27662\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=27662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=27662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=27662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}