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China, Congo lay out road map for Xi Jinping's pledge to invest $50 billion in Africa

China, Congo lay out road map for Xi Jinping's pledge to invest  billion in Africa

 


China and the Republic of Congo, also known as Congo-Brazzaville, have formulated a timetable and road map on how President Xi Jinping $50 billion funding commitment will be devoted to African infrastructure projects over the next three years.

Chinese Foreign Minister Wang Yi made the announcement Tuesday in Brazzaville, the second stop of his tour of Africa.

Speaking to reporters after meeting with President Denis Sassou Nguesso, Wang said the two countries would hold a ministerial coordination meeting to implement the results of the agreement. Forum on China-Africa Cooperation (FOCAC) in September.

These included a series of measures aimed at strengthening trade, economic and diplomatic relations, as well as military cooperation and strengthening inter-party relations, in addition to Xi's financial commitment to the continent.

Among the measures announced at the summit were zero tariffs on 100% of goods from Africa's least developed countries, as well as major land and maritime connectivity projects.

Congo-Brazzaville was chosen as co-chair of FOCAC last year and the oil-rich country will host the 2027 forum.

Sources

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2/ https://www.scmp.com/news/china/diplomacy/article/3294045/china-congo-draw-road-map-xi-jinpings-us50-billion-africa-investment-pledge

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