China To Invest N2.16tn In Africa China To Invest N2.16tn In Africa
China To Invest N2.16tn In Africa

The Chinese Government has expressed readiness to invest N2.16 trillion ($60 billion) in Africa in the next three years.
The Consul-General of the People’s Republic of China in Lagos, Mr Chao Xiaoliang disclosed this in a post-summit article entitled, “FOCAC Beijing Summit: A New Milestone in China-Africa Relations.”
Chao said the new investment drive was one of the outcomes of the just concluded summit of the Forum on China-Africa Cooperation.
He said China would also in the next three collaborate with African countries in industrial promotion, infrastructure connectivity, trade facilitation, green development, capacity building, healthcare, people-to-people, peace and security.
“President Xi Jinping has announced that China will launch eight major initiatives in close collaboration with African countries in the next three years.
 
“The eight initiatives are in areas of industrial promotion, infrastructure connectivity, trade facilitation, green development, capacity building, health care, people-to-people, peace and security.
 
“To make sure these eight initiatives are implemented, China will extend 60 billion US dollars (N2.16 trillion) financing to Africa in different forms which includes 15 billion US dollars (N5.4 trillion) grants, interest-free loans and concessional loans.
 
“China will also encourage Chinese companies to invest more than 10 billion US dollars (N3.6 trillion) in Africa in the coming three years,’’ he said.
According to him, China and African countries are destined to be good friends, good brothers and good partners.

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