m3n4.net
m3n4.net November 19, 2018


Xi announces $60bn financing for Africa

04 September 2018, 12:36 | Vera Richards

Uhuru in China for trade talks days after hosting UK PM Theresa MaySource Facebook

Uhuru in China for trade talks days after hosting UK PM Theresa May

China is offering US$60 billion in financial support and a debt write-off to impoverished African nations- no strings attached, Chinese President Xi Jinping said Monday.

Such concerns have grown as Xi extended his Belt and Road plan across much of the globe and tied it to his ambition of completing his country's return to great power status.

The massive scheme is aimed at improving Chinese access to foreign markets and resources, and boosting Beijing's influence overseas.

At the last three-yearly gathering in Johannesburg in 2015, Xi announced $60 billion of assistance and loans for Africa.

The absent leaders, according to checks by Africanews, are John Magufuli of Tanzania who is represented by Prime Minister; Pierre Nkurunziza of Burundi who is represented by his second vice-president; Joseph Kabila of the Democratic Republic of Congo who is represented by his Prime Minister; Isaias Afwerki of Eritrea, Abdul Aziz Bouteflika of Algeria and King Mswati of eSwatini (formerly Swaziland) who has no representation at all at the summit.

Ramaphosa said the objectives behind the China and Africa economic cooperation extended beyond the Chinese and African people and included the aspiration to build a shared future for all mankind through leadership, vision and partnership. Djibouti has become heavily dependent on Chinese financing after China opened its first overseas military base in the Horn of Africa country a year ago, a powerful signal of the continent's strategic importance to Beijing.

Aretha Franklin’s funeral fit for a queen
Franklin's body arrived, in a 1940 Cadillac LaSalle hearse, more than two hours before the service was scheduled to start. Gwendolyn Quinn, a Franklin family spokeswoman, told the Free Press of Grande, "Aretha was fond of her".

The money would be focused on infrastructure to help speed African countries' development, not on "vanity projects", Xi said.

"Western media deliberately portray Africans in misery for collaborating with China and they appear to have discovered big news by finding occasional complaints in the African media about Sino-Africa cooperation", it said.

Belt and Road, Xi said, "is not a scheme to form an exclusive club or bloc against others".

Chinese officials say this year's summit will strengthen Africa's role in Xi's Belt and Road initiative to link China by sea and land with Southeast and Central Asia, the Middle East, Europe and Africa through an infrastructure network modeled on the old Silk Road.

He announced that China would exempt some African nations from outstanding debts in the form of free Chinese government loans due by the end of 2018.

A study by the Center for Global Development, a USA think-tank, found "serious concerns" about the sustainability of sovereign debt in eight Asian, European and African countries receiving Belt and Road funds. The leaders "refute the view that a new colonialism is taking hold in Africa, as our detractors would have us believe", he told the forum.

Arsenal boss Emery delighted with his strikers for Cardiff win
The lack of discipline from both teams could have easily been avoided. "Some special goals from them, quality goals". They know that they will be in selection in the next game , even if they did not play well this time .

With all these developments, Africa Beyond Aid crusader Paul Kagame, President of Rwanda, maintains that "Africa is not a zero sum game". Last year, China-Africa trade volume was $170 billion.

"Africa is still at the initial stage of industrialization, and the process is very likely to collapse without sustainable investment growth", the state-linked Global Times reported Monday.

President Xi then expressed the hope that as a former world football star, deeply admired by his compatriots, President Weah would use his special influence to promote sport and youth exchanges between China and Liberia.

"This obviously limits ability African countries to extract full value of abundant natural resources and create work for its people".

Xi told him on Sunday that "foreign forces" should not interfere in Sudan's internal affairs, China's Foreign Ministry said.

During the meeting, President Buhari had said he was not afraid of a free and fair election in 2019.

Aretha Franklin public viewings to take place before funeral
Here are a couple other small ways they paid tribute to the Queen of Soul, including sharing one of her national anthems. Want me to go home, clean up, scrub your floors?' She laughed and she said, 'No I don't want you to scrub my floors'".

Chinese state-owned companies have aggressively pursued large investments in Africa, whose vast resources have helped fuel China's transformation into an economic powerhouse.



Other News

Trending Now

Serena, Venus to meet in third round of US Open
Venus, the 2000 and 2001 champion, made the third round for the 17th time with a 6-4, 7-5 victory over Camila Giorgi of Italy. The last time they played each other though, in the third round in Indian Wells 2018, Venus won the match in straight sets.

Air quality to worsen in Northwest as smoke returns
In central Canada, more than three dozen fires are now burning in Ontario, stretching fire crews thin, the report added. While Metro Vancouver's air quality saw a brief reprieve on Friday, August 17th, the smoky haze returned the day after.

OnePlus 6T October launch could spark first USA carrier partnership, with T
OnePlus 6T is going to be priced higher at $550 (Rs 38,300 approximately), but it may not be the final price, the report added. The company did take a while to partner with a carrier, but that is fine.

Maurizio Sarri confirms Ruben Loftus-Cheek is staying
Asked if the player himself feels ready to play a full game, Sarri replied: "Maybe, but I think it's more important (what is in) my mind".

Trump reportedly nixed statement praising life of John McCain
Arizona operatives speculate that one of two former congressmen from the state, John Shadegg and Matt Salmon, could fill the seat. McCain as a hero and highlighted his service as both of a member of the military and the Senate.

Diplomatic squabble as United States rejects Pakistan's claim about Pompeo-Imran phone call
It was decided that the Prime Minister would use the official aircraft only for domestic tours and not for foreign visits. However, Pakistan's Foreign Office described the State Department's press release as "factually incorrect".

Mueller: Prison Time An Option For Former Trump Campaign Aide Papadopoulos
Mifsud, who "has not returned to the United States" since February 2017, has not been publicly charged with a crime. Papadopoulos was also the first Trump campaign adviser to plead guilty in Mueller's investigation.

Jurgen Klopp criticises two Liverpool stars after Crystal Palace victory
The first half was fairly even with close chances from Mohamed Salah and Andros Townsend of Palace , until right before halftime. Referee Michael Oliver's decision to award the penalty seemed generous and Hodgson was strong in his condemnation.

Alienware Announces Upgraded Gaming Desktops With Nvidia RTX GPUs
Asus, EVGA, Gigabyte, MSI, PNY, and Zotac are all announcing GeForce RTX Cards, and they're available to pre-order right now. It was not at all feasible in 3D games, except it now is (on a somewhat simpler scale) using NVIDIA's new graphics cards.

Simona Halep suffers shock first-round defeat at the US Open
She pulled out of last week's Connecticut Open with an Achilles injury. "She played quarter-finals past year ", she said. Halep recovered and it appeared a comeback was on when she broke Kanepi to love to level the second set at 4-4.