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XI JINPING PLEDGES DEBT RELIEF TO POORER AFRICAN COUNTRIES.
Xi Jinping pledges debt relief to poorer African countries.
05 September 2018 | 17:03

Chinese President Xi Jinping pledged debt relief to some poorer African nations, attempting to push back against a major criticism of his signature Belt and Road Initiative.

Speaking to the Forum on China-Africa Cooperation on Monday in Beijing, Xi defended the global program to develop roads, railways, ports, pipelines and other trade links.

Jinpin said China planned to exempt some African countries, from interest-free loans due by the end of the year, adding that the relief would be granted to unspecified poor and heavily indebted countries.

He also announced an additional $60bn of loans, and other financing to follow on a similar amount promised three years ago.

The package includes $20bn of credit lines; $15bn of grants, interest-free loans and concessional loans; $10bn for a special fund; and $5bn to support imports from Africa.


He said they will fully honor the promises they have made to their African brothers.



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