CHINA’S FINANCIAL INITIATIVE OVER AFRICA




Mustafa AY – TDO – 04.09.2018 On Monday, Chinese President Xi Jinping hosted African leaders in China-Africa Summit administered in capital Beijing. During his speech, President Jinping specified that China will provide Africa with total 60 billion dollars financial investment. Within the financial investment programme, China will grant African nations $15 billions for infrastructure, $20 billions for interest-free concessional loans, $10 billions for Africa-China development project and $5 billions for goods to be imported from Africa. Moreover, Beijing will facilitate African-based banks and other financial institutions bond issuances in China with the purpose of attracting African financial institutions to China, rather than EU and America.