Closing ceremony of III China-Africa Economic Forum

The III China-Africa Economic Forum, which took place in Beijing (People’s Republic of China) came to an end on 4th September. It was attended by more than 50 presidents and heads of State from the African continent, and delegations from other parts of the world, who worked for two days on friendship, cooperation, and other matters affecting China-Africa relations.

The People’s Republic of China kept the promise made in 2015 in relation to providing Africa with 60,000 million dollars in funds, as underlined by the Chinese President, H. E. Xi Jinping.

This is the result of the promise made during the second summit held in Johannesburg in 2015, in order to ensure the successful implementation of the ten China-Africa cooperation plans.

During the round table held in the Great Hall of the People in Beijing, the distribution and fields of finance were confirmed, by financial institutions and companies. The financing includes 15,000 million dollars in economic aid, tax-free loans, and loans under highly favourable conditions, in addition to 20,000 million dollars in credit lines.

A special fund has also been set up to the value of 10,000 million dollars for development, and a further 5,000 million dedicated to African imports.

As a new measure, China is encouraging companies to invest at least 10,000 million dollars over the next three years.

Three new members have joined the organisation -Gambia, Burkina Faso and SAPound o Tome and Principe- , whose presidents and prime minister also attended the event which took place on 3rd and 4th September.

The Republic of Equatorial Guinea, as a member of the institution, took part with a delegation led by the President of the Republic, H. E. Obiang Nguema Mbasogo, within the framework of the excellent relations of friendship and cooperation maintained with the People’s Republic of China for over forty years. During the course of the summit, the Head of State also gave a speech before the other leaders.

With all the acts planned for the forum concluded, the Presidents of China, H. E. Xi Jinping and South Africa, H.E. Ciryl Ramaphosa, gave a press conference before the media.

Source: Equatorial Guinea Press and Information Office

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