China's Commitment to Africa at FOCAC 2024
On 5th September 2024, at the ninth Forum on China-Africa Cooperation (FOCAC) in Beijing, Chinese President Xi Jinping announced a significant funding commitment of $51 billion to support 30 infrastructure projects across Africa.
- This move marks a strategic shift for China as it aims to adjust its investment approach amid economic pressures at home.
What is FOCAC?
- Established in 2000, the Forum on China-Africa Cooperation formalizes the partnership between China and African nations, involving 53 African countries.
- The summit is held every three years, alternating between China and African host nations, to enhance political and economic cooperation.
Focus of the 2024 ....
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