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China and Congo Outline Road Map for Xi Jinping's $50 Billion Investment in Africa

share-iconThursday, January 09 comment-icon1 week ago 6 views
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China and Congo Outline Road Map for Xi Jinping's $50 Billion Investment in Africa

Credited from: SCMP

  • China and the Republic of Congo have established a timetable for President Xi Jinping’s US$50 billion investment in African infrastructure over the next three years.
  • Chinese Foreign Minister Wang Yi announced the plan following talks with President Denis Sassou Nguesso in Brazzaville.
  • The meeting coincides with measures agreed at the FOCAC summit, aimed at enhancing trade, military cooperation, and diplomatic ties.
  • Congo seeks to strengthen its export capacity to China, aiming to diversify beyond crude petroleum, and signed agreements on housing and urban construction.
  • Wang's visit to Africa, steeped in diplomatic tradition, aims to bolster China's presence on the continent while promoting mutual development.

For the full article, visit South China Morning Post.

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Gloria Terra

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