China lends $3b to African nations

Updated: 2007-01-29 20:28

BEIJING - China will lend African nations $3 billion in preferential credit over three years and double aid and interest-free loans over the same time, Beijing announced on Monday ahead of President Hu Jintao's tour.

Related readings:
China to fulfil its Sino-African Forum pledges
China-Africa trade links
Chinese, South African presidents stress partnership
2006 experience China in South Africa
Liberian-Chinese ties developing steadily
China-South Africa bilateral relations

"The preferential loans provided by China carry no political conditions," said the announcement on the Ministry's Web site ( The loans would be mostly steered to basic infrastructure, power projects and joint enterprises, it said.

Chinese President Hu will start his visit to eight African nations.

Hu will visit Cameroon, Sudan, Namibia, South Africa, Seychelles, Liberia, Zambia and Mozambique.

Top China News  
Today's Top News  
Most Commented/Read Stories in 48 Hours