On Thursday, Chinas President Xi Jinping committed to increasing Chinese support to the African continent, with funding amounting to approximately 51 billion dollars.
The funding has been pledged to infrastructure initiatives and the creation of at least one million jobs across the continent, Cape {town} Etc reports.
Beijing, the worlds largest two-way lender, intends to divert focus to selling advanced and green technology to developing economies, as this is technology in which Chinese firms have already heavily invested.
In doing so, their funding of big-ticket infrastructure will lessen.
In addition, President Jinping informed delegates from over 50 African countries that China intends to complete 30 infrastructure projects across the continent while offering 360 billion yuan (approximately $51 billion) in financial aid.
