A children waits to receive treatment from Chinese ophthalmologist in Addis Ababa, May 2, 2014. [Photo/Xinhua]

Attending Johannesburg Summit of Forum on China-Africa Cooperation

Dec 4-5

Poverty is the root cause of unrest, peace is the guarantee of development, and development is the key to solve all problems. China supports Africa to solve their problems in their own way and is willing to actively participate in Africa to strengthen the maintenance of peace and security capacity building, and to accelerate development, eliminate poverty and achieve lasting peace, President Xi Jinping said at Forum on China-Africa Cooperation in Johannesburg.

Xi announced that China would offer $60 billion of funding support, including $5 billion of free aid and interest-free loans, $35 billion of preferential loans and export credit on more favorable terms, $5 billion of additional capital for the China-Africa Development Fund and the Special Loan for the Development of African SMEs (small- and medium-sized enterprises) each, and a China-Africa production capacity cooperation fund with an initial capital of $10 billion.