Friday, December 29, 2006

China to increase aid to Africa

The Chinese government announced eight measures to ensure the aid packages promised to Africa during the Beijing Summit of the Forum on China-Africa Cooperation last month, are properly used.

However, how China will implement these measures has become an issue of concern. A Ministry of Commerce spokesperson was questioned on this very problem at a press conference in Beijing on December 15.
The spokesperson said that the ministry has been actively implementing these measures since the forum was concluded over a month ago.

China's assistance to Africa is beneficial to both and comes with no political conditions. As China's economy continues to develop, China will gradually increase its aid to African countries, said the spokesperson.

China is not one of the dominant creditors of Africa, but considers debt relief for African countries very important. China has forgiven 31 of Africa's least developed and most heavily indebted countries debts worth 10.9 billion yuan since the first Ministerial Conference of the China-Africa Cooperation Forum was held.

China canceled all interest-free government loans that matured at the end of 2005 to Africa's heavily indebted and least developed countries.

In order to accelerate Africa's economic and social development, the government is dealing with debt clearance and reduction procedures.

The spokesperson said that China is still a developing country and is under great pressure from its own poverty problems, but it will offer what help it can and will continue to cooperate with African countries for the benefit of African people.

By People's Daily Online

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