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Xi Jinping announces $60 billion of 'funding support' for Africa

AFP
Published : Dec 4, 2015, 2:26 pm IST
Updated : Dec 4, 2015, 2:26 pm IST

Funding support includes USD 5 billion of grants in zero interest loans.

Chinese President Xi Jinping (Photo: AP)
 Chinese President Xi Jinping (Photo: AP)

Funding support includes USD 5 billion of grants in zero interest loans.

Johannesburg

: Chinese President Xi Jinping on Friday announced USD 60 billion of assistance and loans for Africa as he addressed a summit of African leaders in Johannesburg.

"China decides to provide a total of USD 60 billion of funding support that includes USD 5 billion of grants in zero interest loans (and) USD 35 billion in preferential facility and export credit loans and concessional loans," he said

Location: South Africa, Gauteng, Johannesburg