The Chinese Government has expressed readiness to invest N2.16 trillion ($60 billion) in Africa in the next three years.
The new investment drive was one of the outcomes of the just concluded summit of the Forum on China-Africa Cooperation(FOCAC).
China will launch eight major initiatives in areas of industrial promotion, infrastructure connectivity, trade facilitation, green development, capacity building, health care, people-to-people, peace and security.
To ensure successful implementation of these initiatives, China will extend 60 billion U.S. dollars (N2.16 trillion) financing to Africa in different forms which includes 15 billion U.S. dollars (N5.4 trillion) grants, interest-free loans and concessional loans.
The Chinese government also plans to set up ten Luban vocational workshops and China-Africa innovation cooperation centres for youth innovation and entrepreneurship in Africa.There will also be a tailor-made programme to train 1000 Africans, as well as offer of 50,000 government scholarships to Africans.

LEAVE A REPLY

Please enter your comment!
Please enter your name here