China offers $600 million in aid to Asia, Africa
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.