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Economy

China pledges $60 billion for Africa in opening speech of FOCAC summit

China’s President on Monday announced funding worth $60 billion for Africa, which will be assigned through government aid and investment by financial institutions and companies in different areas of cooperation.

President Xi Jinping announced the aid package during his opening speech at the summit of the Forum on China-Africa Cooperation in Beijing, speaking before a number of heads of state from Africa and the United Nations Secretary General Antonio Guterres.

“With opened arms we welcome African countries aboard the express train of Chinese development,” Xi said in his speech, insisting that Chinese aid came without political strings attached and that Beijing did not make demands in return for its help.

Beijing had announced another $60 billion package in 2015 during the last edition of the FOCAC summit in Johannesburg, South Africa.

Xi added that pending debts of some African countries, in the form of interest-free Chinese loans, will be waived by the end of this year, although he did not specify the countries.

He said that the relief would be provided to underdeveloped poor and debt-ridden countries which maintain diplomatic ties with China.

The president said that the $60 billion package would include $15 billion of interest free loans, $20 billion in credit lines, $10 billion for financing development and $5 billion for boosting imports from Africa.

Chinese companies will be given incentives to invest at least $10 billion in Africa within the next three years, he said.

Xi highlighted the main areas of Africa-China cooperation during the next three years, which will be centered on industry, agriculture, infrastructure, trade and health.

Beijing will also back renewable energy and initiatives against climate change as well as the fight against terrorism in the continent, through military support to the African Union for peacekeeping missions.

“Africa’s development has great potential and the continent is full of hope,” Xi said, calling for open and inclusive cooperation with the continent. (September 3, 2018, EFE/Practica Español)

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Comprehension

Lee la noticia y responde a las preguntas. (Read the news and answer the questions.)

Congratulations - you have completed Lee la noticia y responde a las preguntas. (Read the news and answer the questions.). You scored %%SCORE%% out of %%TOTAL%%. Your performance has been rated as %%RATING%%
Your answers are highlighted below.
Question 1
El presidente chino anunció...    
A
unas medidas que afectarán positivamente a unos países de África.
B
unas medidas que beneficiarán solo a los países más ricos de África.
C
unas medidas que apenas  beneficiará a los países más pobres de África.
Question 2
En la noticia se dice que China...    
A
pedirá prestado miles de millones de dólares a unos países africanos.
B
hará todo lo posible para que unos países africanos devuelvan todo el dinero que China les prestó.
C
ofrecerá decenas de miles de millones de dólares para favorecer el desarrollo de unos países africanos.
Question 3
Según el texto, China...  
A
tratará que las empresas chinas inviertan en el continente africano.
B
no hará nada para tratar de aumentar la inversión de empresas chinas en África.
C
no cree que sea conveniente que sus empresas inviertan dinero en África.
Question 4
El presidente chino dijo que...    
A
estas inversiones implican el compromiso político que China tiene hacia esos países.
B
estas inversiones fortalecerán los compromisos políticos de China con esos países.
C
estas inversiones no suponen ninguna atadura política con esos países.
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Essential Vocabulary

Congratulations - you have completed . You scored %%SCORE%% out of %%TOTAL%%. Your performance has been rated as %%RATING%%
Your answers are highlighted below.
Question 1
'Condonar' es...  
A
perdonar una deuda alguien.
B
pedir un préstamo.
C
hacer una donación a una persona necesitada.
Question 2
'Fortalecer' es...  
A
debilitar.
B
hacer más grande algo.
C
hacer más fuerte algo.
Question 3
Un sinónimo de 'incentivar' es...  
A
fomentar.
B
deducir.
C
reducir.
Question 4
Se llama 'acreedor'  a...  
A
la persona prestó dinero a otra y esta le debe dinero.
B
la persona que no puede prestar dinero.
C
la persona que debe dinero a otra.
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Review grammar notes: future tense


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