Wednesday, 18 July 2012

China pledges credit for Africa

China pledges $20bn (£12.8bn) in credit for Africa in a push for closer ties and increased trade at a summit with 50 leaders from across the continent.
The loan is double the amount China pledged in a previous three-year period in 2009, since which time China has been Africa's largest trading partner.

Trade between the two hit a record high of $166bn (£106bn) in 2011, Chinese Commerce Minister Chen Deming wrote in the China Daily newspaper, ahead of the two-day forum.

"We want to continue to enhance our traditional friendship... rule out external interference and enhance mutual understanding and trust," said Mr Hu.