China makes investment in African infrastructure projects
3 August 2012
Chinese Ambassador Zhao Jianhua has revealed details of the substantial investment the country will make in infrastructure projects in Africa over the next few years, iol.co.za reports.
Earlier this week, it was confirmed that the Chinese government is to invest as much as $20 billion as a credit line to African states.
The money is to be used to develop infrastructure in the area of agriculture and manufacturing, and also to help stimulate growth among the continent's small and medium-sized businesses.
"The nature of the China-African partnership is political, equality and mutual trust, economic win-win cooperation and cultural exchanges and mutual learning," he explained.
Mr Jianhua added: "The most outstanding feature of relations between China and Africa is that, China is doing its best to tailor its support, assistance and investment to the development priorities set by African countries."
This comes shortly after African Union commission chair Nkosazana Dlamini-Zuma said that infrastructure improvements are key to economic growth in the region.