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Xi pledges $50 billion in aid to Africa over the next three years

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Chinese leader Xi Jinping criticized the role of Western powers in Africa’s development on Thursday, addressing leaders and representatives from some 50 African countries at a forum aimed at strengthening Beijing’s ties on the continent.

“The Western modernization process has brought great suffering to many developing countries,” Xi said in his speech at the opening ceremony of the Forum on China-Africa Cooperation at the Great Hall of the People in Beijing.

Xi portrayed China as Africa’s preferred development partner, pledging 360 billion yuan (45 billion euros) in loans and investments on the continent over the next three years.

The major boost to financing by the world’s second-largest economy comes after Beijing slowed its investments in Africa due to the coronavirus pandemic.

Xi said China is willing to work with Africa to promote 10 areas of partnership, including defense, education and training, trade, agricultural development and renewable energies.

He said all African states that have diplomatic ties with Beijing should transform their relationship into “a comprehensive strategic partnership”.

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