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President Xi Jinping of China on Monday said his country will provide $60 billion in financial support to Africa.
He said this while addressing leaders at the opening of the Forum on China-Africa Cooperation summit holding in Beijing.
Xi said the new $60 billion will include $15 billion of aid, interest-free loans and concessional loans, a credit line of $20 billion, a $10 billion special fund for China-Africa development, and a $5 billion special fund for imports from Africa.
Xi added that China will also expand its imports from Africa, especially for non-resources products, and will facilitate African financial institutions’ bond issuances.