In a bold and expansive gesture, China has launched a new initiative to support Africa with a remarkable Sh6.5 trillion ($50 billion) in financial aid over the next three years.

This substantial commitment includes a $29.4 billion credit line, $11.2 billion in various forms of assistance, and an anticipated $9.8 billion in investments from Chinese companies.

The announcement was made by President Xi Jinping during the 9th Forum on China-Africa Cooperation summit held in Beijing.

The partnership plan, outlined in a 10-point action agenda, is set to revolutionise Africa’s development landscape by focusing on modernisation across several sectors.

The plan includes modernising industrialisation, agriculture, trade, investment, training, and infrastructure. In addition, it aims to enhance access for African goods to the Chinese market, implement 30 infrastructure connectivity projects, and launch 1,000 development-focused livelihood projects.

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“China is prepared to implement 30 infrastructure connectivity projects in Africa, promote high-quality Belt and Road cooperation and put in place a China-Africa network featuring land-sea links and coordinated development,” Xi stated.

China’s commitment also extends to supporting the continent’s health sector by establishing medical alliances, sending medical personnel, and bolstering Africa’s pharmaceutical industry.

In the agricultural sector, the initiative will offer emergency food aid and support agricultural development. The plan includes a focus on people-to-people exchanges to enhance vocational education and cultural programmes, alongside green development projects such as clean energy and disaster mitigation efforts.

“China is ready to launch 30 clean energy projects in Africa, put in place meteorological early warning systems and carry out cooperation in disaster prevention, mitigation and relief as well as biodiversity conservation,” President Xi added.

In terms of security, the plan encompasses Sh18.2 billion ($140 million) in military assistance, including training for 6,000 military personnel and 1,000 police officers from Africa, as well as inviting 500 young African military officers to China for further training.

“We will give Africa million Sh18.2 billion ($140) of grants in military assistance, provide training for 6,000 military personnel and 1,000 police and law enforcement officers from Africa, and invite 500 young African military officers to visit China,” President Xi affirmed.

Emphasising the importance of equitable and inclusive modernisation, President Xi remarked, “Modernisation should be just and equitable.” He highlighted that both China and Africa represent one-third of the world’s population and that global modernisation hinges on the progress of these regions. To this end, China plans to elevate the status of African nations with diplomatic relations to a strategic level, integrating them into “the all-weather Chinese community.”

The ambitious plan is set to be realised through improved governance cooperation, experience-sharing platforms, knowledge networks, and leadership training programmes.

With this extensive support, China aims to not only fortify its relationship with Africa but also to drive significant and sustainable development across the continent.