InfoAnda - China to boost aid to Africa as ties blossom

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My Profile Top News Reuters top ten news stories delivered to your inbox each day. Subscribe You are here: Home > News > International > Article Home Business & Finance News U.S. Politics International Technology Entertainment Sports Lifestyle Oddly Enough Health Science Special Coverage Video Pictures Your View The Great Debate Blogs Weather Reader Feedback Do More With Reuters RSS Widgets Mobile Podcasts Newsletters Your View Make Reuters My Homepage Partner Services CareerBuilder Affiliate Network Professional Products Support (Customer Zone) Reuters Media Financial Products About Thomson Reuters China to boost aid to Africa as ties blossom Sun Nov 8, 2009 6:37am EST Email | Print | Share | Reprints | Single Page [-] Text [+] By Ben Blanchard and Cynthia Johnston SHARM EL-SHEIKH, Egypt (Reuters) - Chinese Premier Wen Jiabao offered Africa $10 billion in concessional loans over the next three years on Sunday, saying China was a "true and trusted friend" of the continent and its people. The aid offer is double that unveiled by President Hu Jintao at the last summit in Beijing in 2006, as China aims to boost a relationship which politically goes back decades and is now economically booming, to the discomfort of some in the West. Wen brushed aside concerns that China was only interested in Africa's natural resources to help feed its booming economy. "China's support for Africa's development is real and solid and, in the future, no matter what turbulence the world undergoes, our friendship with the people of Africa will not change," he told a summit in the Egyptian resort of Sharm el-Sheikh. Besides the loans, Wen said China would help Africa develop clean energy and cope with climate change, encourage Chinese financial institutions to lend to smaller African firms and expand market access for African products. He also called for greater international help for the continent. "Africa's development is an essential part of achieving global development, and as the sincere and dependable friend of Africa, China deeply feels the difficulties and challenges faced by Africa," We said. "China calls on the international community to enhance its sense of urgency, and support Africa's development in an even truer and more effective way." COLONIAL PERIOD Blossoming trade and business ties have attracted Western accusations that Beijing is only interested in African resources, while Chinese commentators respond that envious Europeans still treat the continent like a colony. Ethiopian Prime Minister Meles Zenawi welcomed China's offer of aid. "We the African leaders are able to take the necessary measures to be able to benefit from the opportunities created by our partnership with China in a manner that is consistent with our principles of solidarity." China's friendship with Africa dates from the 1950s, when Beijing backed liberation movements fighting colonial rule. Trade has risen sharply in the past decade, driven by China's hunger for resources to power its economic boom and African demand for cheap Chinese products. Still, this has not been without its critics, who say China is only interested in African resources and supports governments with dubious human rights records as a means to get them. The summit was attended by the presidents of Zimbabwe and Sudan, two countries often under fire for their rights records. Continued... View article on single page Share: Del.icio.us Digg Mixx Yahoo! Facebook LinkedIn Next Article: FACTBOX: China's promises to Africa Berlin Wall: 20 Years On The Wall's economic legacy Twenty years after the fall of the Berlin Wall, much of the East German economy has cast off the shackles of its Communist past. But some of the changes have come at a price. 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