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Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Legal Deals Earnings Social Pulse Business Video The Freeland File Aerospace & Defense Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB World World Home U.S. Brazil China Euro Zone Japan Mexico Russia India Insight World Video Reuters Investigates Decoder Politics Politics Home Election 2012 Campaign Polling Tales from the Trail Political Punchlines Supreme Court Politics Video Tech Technology Home MediaFile Science Tech Video Tech Tonic Social Pulse Opinion Opinion Home Chrystia Freeland John Lloyd Felix Salmon Jack Shafer David Rohde Bernd Debusmann Nader Mousavizadeh Lucy P. 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See more | Photo caption Inside the London Olympic Village A look inside the Olympic Village, where athletes from around the world will live and play for the London 2012 Olympic Games. Slideshow Religion in Mexico Though Mexico has one of largest Christian populations in the world, the country still shares faiths with a host of other religions. Slideshow China strengthens Africa ties with $20 billion in loans Tweet Share this Email Print Related News BofA plans $3 billion of new cost cuts Wed, Jul 18 2012 China aims to rewrite perceptions on Africa investment push-envoy Wed, Jul 18 2012 China's economy cools, shows need for policy action Fri, Jul 13 2012 U.S. urges China to open talks on South China Sea Thu, Jul 12 2012 China inflation signals demand falling as prices ease Mon, Jul 9 2012 Analysis & Opinion U.S. student debt on scary trajectory The sensible hunt for manufacturing jobs Related Topics World » 1 of 2. China's President Hu Jintao (L) gestures next to Benin's President Thomas Yayi Boni during the opening ceremony of the Fifth Ministerial Conference of the Forum on China-Africa Cooperation (FOCAC) at the Great Hall of the People in Beijing, July 19, 2012. Credit: Reuters/Jason Lee By Ben Blanchard BEIJING | Thu Jul 19, 2012 1:43am EDT BEIJING (Reuters) - Chinese President Hu Jintao on Thursday offered $20 billion in loans to African countries over the next three years, boosting a relationship that has been criticized by the West and given Beijing growing access to the resource-rich continent. The loans offered were double the amount China pledged for the previous three-year period in 2009 and is the latest in a string of aid and credit provided to Africa's many poverty-stricken nations. The pledge is likely to boost China's good relations with Africa, a supplier of oil and raw materials like copper and uranium to the world's most populous country and second-largest economy. But the loans could add to discomfort in the West, which criticizes China for overlooking human rights abuses in its business dealings with Africa, especially in Beijing's desire to feed its booming resource-hungry economy. Hu brushed off such concerns in his speech at the Great Hall of the People, attended by leaders including South African President Jacob Zuma and Equatorial Guinea's Teodoro Obiang Nguema, a man widely condemned by rights groups as one of the world's most corrupt leaders. "China wholeheartedly and sincerely supports African countries to choose their own development path, and will wholeheartedly and sincerely support them to raise their development ability," Hu said. China will "continue to steadfastly stand together with the African people, and will forever be a good friend, a good partner and a good brother", he added at the summit held every three years since 2000. Hu also pledged to "continue to expand aid to Africa, so that the benefits of development can be realized by the African people". He did not provide an amount. Hu said the new loans would support infrastructure, agriculture, manufacturing and development of small and medium-sized businesses in Africa. "CHEQUE BOOK" APPROACH Critics say China supports African governments with dubious human rights records as a means to get access to resources. The EU has rejected what they call China's "cheque book" approach to doing business with Africa, saying it would continue to demand good governance and the transparent use of funds from its trading partners. Such criticism draws rebukes from China that the West still views Africa as though it were a colony. Many African countries say they appreciate China's no-strings approach to aid. "Africa's past economic experience with Europe dictates a need to be cautious when entering into partnerships with other countries," Zuma told the forum. "We are particularly pleased that in our relationship with China we are equals and that agreements entered into are for mutual gain," Zuma added. "We certainly are convinced that China's intention is different to that of Europe, which to date continues to intend to influence African countries for their sole benefit." China's friendship with Africa dates back to the 1950s, when Beijing backed liberation movements in the continent fighting to throw off Western colonial rule. GROWING TRADE LINKS Chinese state-owned firms in Africa also face criticism for using imported labor to build government-financed projects like roads and hospitals, while pumping out raw resources and processing them in China, leaving little for local economies. "Certainly quite a number of us are thinking we need to move into more value addition," South African's Trade and Industry Minister Rob Davies told Reuters. "We need to export mineral products in a more processed form ... We need to bite this bullet very seriously." Trade has jumped in the past decade, driven by Chinese hunger for resources to power its economic boom and African demand for cheap Chinese products. China's trade with Africa reached $166.3 billion in 2011, according to Chinese statistics. In the past decade, African exports to China rose to $93.2 billion from $5.6 billion. Industrial and Commercial Bank of China 601398.SS, for example, the world's most valuable lender, has invested more than $7 billion in various projects across the continent. (Additional reporting by Sui-Lee Wee and Sally Huang; Editing by Michael Perry) World Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Connect with Reuters Twitter Facebook LinkedIn RSS Podcast Newsletters Mobile About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. 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