The amount includes $15 billion in grants, interest-free loans and concessional loans, $20 billion in credit lines, $10 billion for development financing and $5 billion to spend for imports from Africa.
Chinese President Xi Jinping has pledged $60 billion in financing for ventures in Africa in the form of assistance, investment and loans.
During the event of a China-Africa summit, President Xi Jinping said the amount includes $15 billion in grants, interest-free loans and concessional loans, $20 billion in credit lines, $10 billion for development financing and $5 billion to spend for imports from Africa.
He further added that China will also expand its imports from Africa.
Xi also endorsed initiative to build ports and other Infrastructure as a tool for common prosperity in a world facing challenges from trade tariff barriers.
