Stella Dimoko Korkus.com: FOCAC 2024 - Chinese President Pledges $50 Billion For Africa

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Friday, September 06, 2024

FOCAC 2024 - Chinese President Pledges $50 Billion For Africa

Excerpt from this post - President Xi Jinping announced $50 billion in financial support for the continent, in addition to military aid.
President Xi said China appreciates its ties with African nations and that China and Africa should rally their populations together to become a powerful force and write a new chapter in global peace, prosperity, and progress.
The Chinese leader also pledged another $280 million in aid to African countries while proposing partnership actions to jointly advance modernization with Africa.


COLLABORATION AND POLITICAL NON-INTERFERENCE IMPERATIVE FOR GLOBAL PROSPERITY, PRESIDENT TINUBU TELLS FOCAC AS CHINESE PRESIDENT PLEDGES $50 BILLION FOR AFRICA

President Bola Tinubu on Thursday in Beijing, China, emphasized the importance of global collaboration in achieving shared progress and prosperity.
Speaking at the opening ceremony of the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC) at the Great Hall of the People in Beijing, President Tinubu highlighted the success of the China-Africa partnership as a model for sustainable development and shared prosperity.

He noted that the partnership is driven by a bold vision for the future and that by working together, Africa and China can unlock unprecedented levels of growth and development for their nations.
The President said cooperation is key to solving global challenges and that the China-Africa partnership is built on trust, mutual respect, and the pursuit of common goals.

President Tinubu called for the sustenance of the momentum of cooperation and emphasized the need for peaceful dialogue, transparent business practices, and diplomatic conflict resolution in deepening the bond between Africa and China.
He expressed optimism thatthe partnership will continue to benefit both regions as it is driven by a bold collective vision for the future.

''The success of FOCAC and our broader partnership emphasizes the important truth that global progress is not a zero-sum game. By working together and joining hands and looking for win-win solutions, we create opportunities for sustainable development and shared prosperity. Our joint efforts reinforce a vision for a multi-polar world where diverse perspectives are embraced, and where cooperation is key to solving global challenges.

''At the heart of China-Africa relations is a foundation built on trust, mutual respect, and the pursuit of common goals. As we look to the future, it is crucial that we maintain the momentum. Peaceful dialogue, transparent business practices, and diplomatic conflict resolution remain at the forefront of our efforts.

''These values will ensure that the bond between Africa and China continues to deepen and benefit both regions for the generations yet to come. The partnership is not only about shared history. It is driven by a bold collective vision for the future.
''Together, we join hands by pulling our strength and resources together. We can unlock an unprecedented level of growth and development for our nations,” the President said.
President Tinubu congratulated earlier speakers, particularly the co-chair of FOCAC, President Bassirou Diomaye Faye of Senegal, for their contributions to the partnership.
The President highlighted the defining moments of the partnership, including China's consistent commitment to Africa through financial and developmental support, cultural exchanges, and the establishment of FOCAC in 2000.

He said the partnership has stood firm despite global challenges, offering a powerful example of what can be achieved through respect for sovereignty and non-interference in the internal politics of other nations.

The President also highlighted the flourishing economic partnership between Africa and China, with trade reaching an estimated $280 billion, and expressed optimism about the alignment of China's Belt and Road Initiative with Africa's infrastructure goals.

In his remarks, President Xi Jinping announced $50 billion in financial support for the continent, in addition to military aid.
President Xi said China appreciates its ties with African nations and that China and Africa should rally their populations together to become a powerful force and write a new chapter in global peace, prosperity, and progress.
The Chinese leader also pledged another $280 million in aid to African countries while proposing partnership actions to jointly advance modernization with Africa.

According to President Xi, the 10 actions, to be implemented in the next three years, cover areas of mutual learning among civilizations, trade prosperity, industrial chain cooperation, connectivity, development cooperation, health, agriculture and livelihoods, people-to-people and cultural exchanges, green economic development and common security.

"To implement the 10 partnership actions, the Chinese government will provide RMB360 billion yuan of financial support through the next three years.
''This breaks down into RMB210 billion yuan of credit line, RMB80 billion yuan of assistance in various forms, and at least RMB70 billion yuan of investment in Africa by Chinese companies.

''In addition, China will encourage and support Africa in issuing panda bonds in China to enhance our results-oriented cooperation in all areas,” he said.
The Chinese leader proposed that the overall characterization of China-Africa relations be elevated to an all-weather China-Africa community with a shared future for the new era.
''Thanks to nearly 70 years of tireless efforts from both sides, the China-Africa relationship is now at its best in history.
''With its future growth in mind, I propose that bilateral relations between China and all African countries be elevated to the level of strategic relations, and that the overall characterization of China-Africa relations be elevated to an all-weather China-Africa community with a shared future for the new era,'' President Xi stated.

9 comments:

  1. China-African summit
    France - African summit
    Russia - African summit

    Africa is the baby everyone country want to exploit in the name of deceitful loans and grants knowing that African leaders are corrupt minded and will sell their country for a spoon of porridge.

    ReplyDelete
    Replies
    1. A smart and selfless leader can still get a good deal for his/her country even in this disadvantaged position that Africa is

      Delete
  2. They are selling Nigeria to China while the youths are busy discussing BBN, yansh, sex and relationships. China just attempted to seize a presidential jet. Next is the land in some parts of Nigeria. They are doing it all over Africa because the rulers are neither statesmen nor leaders like the times pre independence & immediately post independence when we had the likes of Patrice Lumumba, Nkrumah, Kaunda, Jomo Kenyatta, Awo, Zik etc!

    China is the current colonial masters manufacturing everything from Aso oke to lace while Nigerians remain “traders”, importing finished goods and shouting “money na water” over SM. Little efforts to manufacture anything other than “music” and “skits”! I pity the next generation of Nigerians as all the politicians’ children are in the US & Europe and the parents only stay behind to steal money for them to spend here. They can’t get away with the “easy loot or inflated contracts” they get in Nigeria so the kids know why their daddy is in Nigeria & live large here! O ma se o!

    ReplyDelete
  3. Is Alright.
    Make he no be say nah Only political them them

    Hello iya Boys

    ReplyDelete
  4. Hmmmmmmmm. The idea that Africa cannot find ways to work within its own continent and generate continental prosperity without the interference of outsiders boggles my mind. It's the same old song and dance. When will we stop taking these ppl's money? Who told us that we could not prosper or advance solely based on collective work among nations on the continent? Why are we always seeking to outsiders instead of seeking to each other?

    ReplyDelete

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