CHINESE President Xi Jinping has pledged nearly $51 billion in financial support for Africa over the next three years, as part of China’s continued efforts to strengthen ties with the continent. The announcement was made during the Forum on China-Africa Cooperation (FOCAC) Summit in Beijing, where Xi addressed delegates from over 50 African nations, emphasising the importance of collaboration in building a shared, modern future.
During the summit, Xi outlined China’s commitment to stepping up cooperation with Africa in key sectors such as infrastructure, trade, industry, agriculture, and investment. ‘China and Africa together represent one-third of the world’s population. Without our modernisation, there will be no global modernisation,’ Xi said, reinforcing the idea that both regions must work together to achieve sustainable growth.
Of the $51bn, 360 billion yuan ($50.70bn) will be distributed over three years, with 210 billion yuan provided through credit lines and at least 70 billion yuan coming from direct investment by Chinese companies. The package also includes smaller amounts earmarked for military aid and additional projects. China’s increased investment signals its commitment to supporting Africa’s infrastructure growth, with a particular focus on 30 new clean energy projects and a network of land and sea links.
China, already Africa’s largest bilateral lender, has promised to triple the number of infrastructure projects across the continent. Xi highlighted China’s new focus on smaller, advanced green technology projects, aligning with China’s growing emphasis on sustainable development.
At the summit, delegates adopted the ‘Beijing Declaration’ and the ‘Beijing Action Plan 2025-2027,’ both of which outline the next steps for China-Africa cooperation. The plans include provisions for debt repayment postponements and advocate for the establishment of an African rating agency to address financial transparency and stability on the continent.
While Xi avoided direct mention of African debt in his speech, China remains Africa’s largest creditor. Many African nations, such as Ethiopia and Kenya, owe significant portions of their external debt to China, and concerns about debt relief have been a focal point of discussions. UN Secretary-General António Guterres, also present at the summit, warned that insufficient access to debt relief and limited resources could lead to social unrest across Africa.
In addition to the major infrastructure and clean energy projects, China is also focusing on job creation. The initiative is expected to generate at least 1 million jobs across the continent, helping to boost local economies and drive industrialisation efforts.
While Xi did not reaffirm China’s previous commitment to buying $300bn worth of African goods—a pledge made during the 2021 FOCAC Summit—he did promise to unilaterally expand market access for African exports. However, experts have noted that China’s strict import rules, particularly on plant and sanitary checks, may hinder this effort.
Despite these challenges, African nations remain optimistic about their growing relationship with China. Sierra Leone’s fisheries and marine resources minister, Princess Dugba, praised China’s role in developing key infrastructure in her country. ‘China is building us a fish harbour, one of the first of its kind,’ she told Reuters, highlighting the tangible benefits of Chinese investments.
Overall, the FOCAC Summit has reaffirmed China’s commitment to supporting Africa’s development and modernising the continent’s infrastructure, with a particular focus on clean energy and economic growth. The increased financial aid, infrastructure projects, and job creation initiatives underscore China’s strategic interests in Africa, positioning both regions for a shared future of development and cooperation.
About The Author
