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China Pledges Fresh $60B to Africa, says No Political Strings Attached

Beijing is pledging to extend new funding of $60 billion to Africa, aimed at areas from industrial enhancement to infrastructure.  China also says it will wipe clean the debt for certain African countries when interest-free loans come due later this year.   President Xi Jinping made the pledge Monday during the opening ceremony of the triennial Forum on China Africa Cooperation in Beijing.   He did not say which countries would have their debt absolved, but the move appeared to be the latest effort by Beijing to deflect concerns about debt levels on the continent and the risks of “debt trap diplomacy.”   Speaking to leaders from more than 30 African countries at Beijing’s Great Hall of the People, Xi said China’s investment and engagement on the continent would continue, with no political strings attached to Beijing’s investments in Africa. “China-Africa cooperation must give Chinese and African people tangible benefits...

 

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