HEADLINES:
R/€ 
R/£ China pledges $10bn cheap loans to Africa
November 09, 2009 Edition 1
SHARM EL-SHEIK, Egypt: China's premier yesterday pledged $10 billion (R76bn) in low-interest loans to African nations over the next three years and said Beijing would cancel the government debts of some of the poorest of those countries.
Wen Jiabao's announcement looked to deflect criticism that China's investments in Africa were driven purely by greed.
China is one of the largest investors in Africa.
At a two-day China-Africa summit, Wen also said China would build 100 new clean-energy projects for Africa over the same period to help the continent fight climate change.
China has been accused by some in the West of ignoring Africa's needs and the dismal rights records of some countries in its quest for fuel to drive its bustling economy.
Wen said that while many in the world had only now begun to take note of China's role in Africa, it was a relationship that went back five decades and included helping countries to break free from colonialism.
"The Chinese people cherish sincere friendship towards the African people, and China's support to Africa's development is concrete and real," Wen said.
"Whatever change may take place in the world, our friendship with African people will not change."
He said Beijing would take eight new measures over the next three years, including helping Africa to build up its financing capacity.
The initiatives include building energy projects that cover solar power, biogas and small hydro plants; boosting the training of African professionals; building schools; and zero-tariff treatment for 95 percent of the products from the least developed countries that have relations with Beijing.
Wen said China was also prepared to play a role in the "settlement of issues of peace and security". - Sapa-AP
© 1999 - 2010 Star & Independent Online (Pty) Ltd. All rights reserved.