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article imageChina unveils $12 billion aid package for Africa

By Justin King     May 9, 2014 in World
Lagos - China has announced a massive aid package for Africa and extended the offer to share the technology necessary to build a high-speed railway on the continent.
Chinese Premier Li Keqiang announced the plan in Nigeria’s capital city to the Organization of African Union. China has earmarked more than half of all its foreign aid for projects on the continent. The aid offer has no provision attached to it for increased natural resources access for China.
Li Keqiang offered to increase the credit line available to African nations by $10 billion, bringing the total amount to over $30 billion.
China’s offer to share advanced technology related to constructing a high speed rail system throughout the continent is one of the investments in infrastructure that Li Keqiang extended. According to Xinhua, the official Chinese news agency, the Chinese Premier
depicted a dream that all African capitals are connected with high-speed rail, so as to boost pan-African communication and development.
In addition to rail infrastructure, China has offered to assist African nations with establishing regional air service by providing feeder jets, training pilots, and constructing the necessary facilities.
$10 million of the aid package is designated to be used to protect wildlife on the continent. Elephants and Rhinos are poached in great part to satisfy the Chinese demand for ivory.
China has also extended an offer to provide scholarships for 18,000 government scholarships and 30,000 professional scholarships.
China has remained Africa’s largest trading partner for the last five years, with trade totaling over $210 billion in 2013.
More about China, Africa, Foreign aid, High speed rail, Poaching
 
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