China of­fers $600 mil­lion in aid to Asia, Africa

China Daily (Canada) - - NEWS CAPSULE -

China will of­fer aid and pref­er­en­tial loans worth 4 billion yuan (al­most $600 mil­lion) to Por­tuguese-speak­ing coun­tries in Asia and Africa in the next three years, Pre­mier Li Ke­qiang an­nounced on Tues­day.

Li made the an­nounce­ment at the open­ing cer­e­mony of the 5th Min­is­te­rial Con­fer­ence of the Fo­rum for Eco­nomic and Trade Co­op­er­a­tion be­tween China and Por­tuguese-speak­ing coun­tries in Ma­cao.

At least 2 billion yuan of aid will be given to help de­velop agri­cul­ture, fa­cil­i­tate trade and in­vest­ment, pre­vent and con­trol malaria and con­duct research on tra­di­tional medicine in An­gola, Cape Verde, Guinea Bis­sau, Mozam­bique and Ti­mor-Leste, ac­cord­ing to the pre­mier.

At least 2 billion yuan of pref­er­en­tial loans will be of­fered to pro­mote in­dus­trial pro­duc­tion ca­pac­ity co­op­er­a­tion and in­fra­struc­ture de­vel­op­ment in these coun­tries, Li said.

China will can­cel 500 mil­lion yuan of in­ter­est-free loans n Asia and Africa, Li said.

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