Forum Views ()
Forum Replies ()
Read more with google mobile :
China to give Africa $10 billion dollars in loans
Yahoo!
My Yahoo!
Mail
More Yahoo! Services
Account Options
New User? Sign Up
Sign In
Help
Yahoo! Search
web search
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Thailand
Vietnam
China to give Africa $10 billion dollars in loans
AFP - Monday, November 9
Send
IM Story
Print
China to give Africa $10 billion dollars in loans
SHARM EL-SHEIKH, Egypt (AFP) - – Chinese Prime Minister Wen Jiabao on Sunday pledged to give Africa 10 billion dollars in loans, brushing off criticism of "neo-colonialism" as China boosts its presence on the continent.
"We will help Africa build up its financing capabilities ... We will provide 10 billion US dollars for Africa in concessional loans," Wen told a Forum on China-Africa Cooperation which opened in the Egyptian Red Sea resort of Sharm el-Sheikh on Sunday.
His pledge was included among measures he said would be taken over the next three years, including cancelling debts of African countries to increase his country's role in the continent.
The Asian giant pledged five billion dollars in assistance over three years at the last Forum on China-Africa Cooperation summit, held in Beijing in 2006, and has signed agreements to relieve or cancel the debt of 31 African nations.
It will also provide a one-billion-dollar loan for "for small and medium-sized businesses," Wen said.
"China is ready to deepen practical cooperation in Africa," he said, adding that Beijing was prepared to take on a role in "the settlement of issues of peace and security."
China will also remove tariffs on 95 percent of products "from the least-developed African states that have diplomatic relations with China," he said.
Wen also said China would help build 100 solar power and bio-gas plants and increase infrastructure and agriculture projects.
Chinese firms have been pouring investments into oil and other raw materials in Africa to fuel the Asian country's booming economy.
Over the past five years, Chinese direct investment in Africa has soared, from 491 million dollars in 2003 to 7.8 billion dollars in 2008, according to official Chinese figures.
Total trade between China and Africa topped 100 billion dollars in 2008 -- a tenfold increase in eight years.
But Beijing's growing economic role in the poverty-ridden continent has also been met with some criticism.
China has been accused of throwing a lifeline to pariah regimes accused of human rights violations, such as the government of Sudan's President Omar al-Beshir, who is wanted for alleged war crimes by the International Criminal Court.
Chinese officials say they follow a policy of non-interference in the domestic affairs of African countries, and deny that Chinese investments and loans come with strings attached.
"There have been allegations for long that China has come to plunder resources" in Africa, Wen said at a press conference, calling the accusations "untenable."
"Why do some only criticise China?" he asked. "Is this a view representing African countries, or rather the view of Western countries?" he said, insisting China's aid was "selfless."
In his speech, Wen said: "Africa is fully capable of solving its own problems, in an African way."
"China has never attached any political strings... to assistance to Africa," he said, adding that trade is based on "win-win programmes ... and transparency."
Sudan's Beshir, who is at the two-day summit, thanked China in a speech for its diplomatic role in Sudan, where a six-year conflict in the country's Darfur region has killed 300,000 people, according to the United Nations.
On March 4 the International Criminal Court issued a warrant for Beshir, accusing him of crimes against humanity and war crimes in Darfur.
Recommend
Send
IM Story
Print
Related Articles
Dengue fever in American Samoa rises after tsunami AP - Monday, November 9
China to give Africa $10 billion dollars in loans AFP - Monday, November 9
Dalai Lama visits town near Tibet, angering China AP - Monday, November 9
Chinese premier pledges funds, aid to Africa AP - Monday, November 9
Cambodian PM says ousted Thai leader will visit AP - Monday, November 9
News Search
Top Stories
Japan eyes solar station in space
Advertisers face resistance to on-line tracking
IMF says stimulus needed to aid 'nascent' recovery
Obama to push lawmakers on health care vote
Opel chief quits after GM decides to keep European unit
More Top Stories »
ADVERTISEMENT
Most Popular
Most Viewed
Most Recommended
Gold price hits record after 'Sri Lanka purchase'
US grieves after Muslim doctor kills 13 on army base
Japan eyes solar station in space
Obesity causes 100,000 US cancers every year: study
Opel chief quits after GM decides to keep European unit
More Most Viewed »
Somali centenarian weds 17-year-old
Mobile phone giant Nokia sues Apple over patents
Fibre may keep asthma, diabetes at bay, study finds
More Most Recommended »
Elsewhere on Yahoo!
Financial news on Yahoo! Finance
Stars and latest movies
Best travel destinations
More on Yahoo! News
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Subscribe to our news feeds
Top StoriesMy Yahoo!RSS
» More news feeds | What are news feeds?
Also on Yahoo
Answers
Groups
Mail
Messenger
Mobile
Travel
Finance
Movies
Sports
Games
» All Yahoo! Services
Site Highlights
Singapore
Full Coverage
Most Popular
Asia Entertainment
Photos
Copyright © 2009 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved.
Terms of Service |
Privacy Policy |
Community |
Intellectual Property Rights Policy |
Help
Other News on Monday, 9 November 2009 Iraq electoral law passes, sets up national vote
Wall anniversary celebrations kick off in Berlin
French bank heist suspect becomes Internet star
Women fight new battle in Iraq's insurgent corner
Russia must keep promise to supply missiles
Iran's Karoubi attacks Ahmadinejad on U.S. policy
| International
|
Iranian lawmaker warns Russia over missile delay
Iraq passes election law paving way for January poll
| International
|
Strong 6.7 magnitude Indonesian quake reported
| International
|
Somalia sees end to Spanish hostage crisis in 3 weeks
| International
|
Israeli lawmaker floats idea of talks with Hamas
| International
|
South Sudan faces famine danger after poor rains: U.N.
| International
|
Sudan's Bashir to miss OIC summit after EU objected
| International
|
Dengue fever in American Samoa rises after tsunami
China to give Africa $10 billion dollars in loans
Dalai Lama visits town near Tibet, angering China
U.S. healthcare measure faces tough path in Senate
Army chaplain seeks prayers for Fort Hood shooter
Cambodian PM says ousted Thai leader will visit
Democrats gird for next step in health care fight
Hurricane Ida floods kill 50 in El Salvador
Obama says it's now Senate's turn on health care
Anti-Taliban mayor among 12 killed in Pakistan
Suspect identified in Seattle police killing
Correction: Immigrant Hate Crimes story
Afghan president: No corrupt officials in new govt
Fort Hood investigators see suspect as lone gunman
Senator: Senate will investigate Army shootings
Casey says war in Afghanistan needs more US troops
Dalai Lama visits monastery despite China protest
Cambodia announces Thaksin visit
"Christmas Carol" leads North American box office
US-ENTERTAINMENT Summary
"Christmas Carol" off to slow start at box office
Christmas Carol off to slow start at box office
| Entertainment
|
Obama hails Iraqi approval of 2010 election law
Hurricane Ida aims for Gulf of Mexico oil fields
| International
|
Leaders to fete fall of Berlin Wall at giant bash
Karzai says he's addressing corruption
| International
|
World leaders line up to mark fall of Berlin Wall
| International
|
Iraq passes election law, paving way for January poll
South Sudan faces famine danger after poor rains
Netanyahu's Washington trip clouded by Abbas threat
| International
|
Iran frees 40 detained during anti-U.S. rally
Suicide bomber kills three in Pakistan
| International
|
Cold War frontier gone in Germany, remains in Korea
| International
|
Sudan's Beshir cancels Turkey visit
Israeli lawmaker floats idea of talks with Hamas
Colombia turns to UN, OAS after Venezuela war talk
| International
|
China, like U.S., tackles thorny health care reform
| International
|
Ally of Zimbabwe's PM goes on trial for terrorism
| International
|
Volunteers come to injured farmers' rescue
Lawmaker wants probe of E. coli and school lunches
HBO's 'Curb Your Enthusiasm' coming to basic cable
Cold War frontier gone in Germany, remains in Korea
US Army appeals for help in Fort Hood inquiry
Floods, mudslides kill 124 in El Salvador
Police: Suicide bomber kills 3 in Pakistan
Police: 3 women gunned down while in car with kids
Japan pop star Sakai gets suspended jail term for drug use
Tornado damages homes in northwestern Oregon
Chavez to troops: Prepare for war with Colombia
Kim Jong-Il has six personal trains: report
Taiwan to discuss trade pact with China in APEC
US military deaths in Afghanistan region at 833
2 killed by strong central Indonesian quake
2 dead, 5,000 evacuated in Malaysia flash floods
Philippines vows action after teacher is beheaded
Dozens hurt by strong quake in central Indonesia
Islamic rebels behead Philippine teacher: police
New star Taylor Lautner rises in New Moon
| Entertainment
|
India's Reliance set for major US takeover: report
Britney Spears upset over Australian tour complaints
| Entertainment
|
S.Korea seeks poison pill against hostile M&A
Japan Airlines executives to forgo pay in December
Documentary puts old Hollywood pros in spotlight
"Christmas Carol" off to slow start at box office
Dr. Phil renewed through 2014
| Entertainment
|
Asian nations bear brunt of dollar slump
Kenny Chesney concert to hit theaters in 3D
| Entertainment
|
Seoul shares extend gains but appetite still weak
S.Korea c.bank delays Thurs rate meeting by 1 hr
S.Korean bond yields steepen as rate vote looms
Disney Channel wants more Jonas
| Entertainment
|
Seoul shares open higher; POSCO, Hynix gain
Wanda Sykes Show good, bad and insipid
| Entertainment
|
Men Who Stare at Goats weathers far-flung shoot
| Entertainment
|
'Made in China' now made in Egypt
Jake Gyllenhaal cracking sci-fi Code
| Entertainment
|
Filmmaker James Ivory books trip to sedate City
| Entertainment
|
Britney Spears "upset" over Australian tour complaints
New Zealand house prices rise in October
Jake Gyllenhaal cracking sci-fi "Code"
Two killed in Indonesian quake: report
Filmmaker James Ivory books trip to sedate "City"
Earthquake measuring 6.7 reported near Indonesia
Documentary puts old Hollywood pros in spotlight
Indonesia quake kills at least one
"Men Who Stare at Goats" weathers far-flung shoot
"Wanda Sykes Show" good, bad and insipid
Prices take shine off Pakistan weddings
Detective agency series puts Botswana on tourist map
Taiwan president presses for more English in college
Lumberjack eyes $8.5 mln world poker jackpot
Merkel hails East German bravery 20 years after Wall
| International
|
Nokia recalls 14m potentially dangerous chargers
Women deprived of health care at key moments: WHO
Four rebels killed in Caucasus clash
Burberry taps social media with trench coat site
Karzai seeks closer trade ties with Muslim nations
| International
|
Iran still wants nuke talks with world powers
Britney 'upset' over Aussie lip-synching row: promoter
Obama and Netanyahu to meet as peace effort flounders
Iraq election set for January 21 after new law passes
| International
|
China executes nine over Xinjiang riots: report
| International
|
Zimbabwe PM's ally goes on trial for terrorism
| International
|
WITNESS: The news conference that toppled the Wall
| International
|
Anglican plan won't alter celibacy for most priests
| International
|
U.S. can give Iran space to accept atom deal: official
| International
|
Nokia recalls 14m potentially dangerous chargers
Myanmar's Suu Kyi optimistic after U.S. visit
DC area relives terror as sniper's execution nears
Obama to sign vet jobs order, meet with Netanyahu
High court to look at life in prison for juveniles
Call of Duty game shoots to make history
| Technology
|
Hurricane Ida weakens to Category 1, 90 mph winds
Online auction site launches for rich and famous
| Technology
|
Suicide bomber kills three in Pakistan
Burberry taps social media with trench coat site
| Technology
|
Alleged shooter tied to mosque of 9/11 hijackers
Russia fires police YouTube whistleblower
| Technology
|
Thousands flock to see Dalai Lama in Indian border state
AP NewsAlert
US military: 3 US military personnel die in Iraq
Top editor leaves China's boldest news magazine
India limits media on contentious Dalai Lama trip
French envoy in NKorea for talks on ties, nukes
Militants behead school principal in Philippines
Copenhagen failure would be 'suicide': Maldives
Maoist rebels kill 4 police officers in India
Highlights of Obama's trip to Asia
Rain's ninja role draws inspiration from Lee, Chan
Taiwan to discuss trade pact with China at APEC
China October auto sales up 72 percent on stimulus
Bangladesh hit by sharp fall in exports
NTT net profit down 38 percent on mobile weakness
Study says APEC is as good as free trade area
SKorea wants Obama to be aggressive on trade pact
S.Korea c.bank not to renew $600 mln special loans
GM's China 2009 sales pass 1.5m units
GM says China sales more than double in October
Gospel's Bobby Jones donates recordings worth $6M
Global Recession Changing The Way Millennials View Office Politics, Workplace Expectations
50 years: Kan. town grieves 'In Cold Blood' deaths
Rain's ninja role draws inspiration from Lee, Chan
Fort Hood Shooter's Terror Ties Under Scrutiny; Lieberman Calls For Congressional Inquiry
Pilot Missing After Plane Crashes In Florida Everglades
Concern over capitalism on Berlin Wall anniversary
FDA Warns Companies Against Selling Flavored Cigarettes
Philadelphia Transit Strike Ends
Christmas Carol off to slow start at box office
| Entertainment
|
Twilight movies inspire vampire stampede
| Entertainment
|
Poll: Most People Seeking Swine Flu Vaccine Can't Find It
"Twilight" movies inspire vampire stampede
Kenny Chesney concert to hit theaters in 3D
Hurricane Ida Poses Threat To U.S. Gulf Coast From Louisiana To Florida
Hurricane Ida Strengthens To Cat 2 Storm In Southern Gulf Of Mexico; Portions Of 4 States Under Watch
"Dr. Phil" renewed through 2014
Disney Channel wants more "Jonas"
Taconic Parkway Mom Was Regular Pot Smoker, Police Say
Former Annapolis Water Polo Star Survives Suicide Jump Off New York Bridge
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights