Ministers from more than 50 African countries next week will meet in China’s capital, Beijing to discuss modalities for the disbursement of $60b in funding from the People’s Republic of China.
The fund was announced by China’s President, Xi Jinping at the Forum on China-Africa Cooperation (FOCAC) summit held in Johannesburg, South Africa in December.
After the summit, senior officials from Africa have shuttled to China and Chinese government officials visited several countries to discuss the modalities for accessing the fund.
Six months after the pledge, some African countries are on track to receive the funds, yet hurdles remain, Zhang Ming, China’s vice foreign affairs minister told journalists at a briefing on Friday.
“About 30 African countries have put in place coordination mechanisms. There is good communication from China and Africa,” Zhang stated.
In spite of the progress, the minister revealed that China was not yet satisfied with some countries’ plans, particularly on use of funds.
“We see some problems on how to use the funding. There is need for further communication. We need specific and workable plans,” Zhang revealed.
He says Thursday’s meeting in Beijing will seek to close the gaps and lay ground for common position on the efficient use of the new fund for the continent’s development.
COMMENTARY
It is erroneous that Africa that has lost more than $1trillion to illegal cash outflow, has unquantifiable resources, yet would stoop so low to collect a paltry $60B from China, Whereas Africa has more than thrice landmass and twice less population of China. Blind leaders, slaves in high places are our pains.
God send us African King to liberate us from "Caricaturism". - EzeSayz
God send us African King to liberate us from "Caricaturism". - EzeSayz
Eze Afrika