Ann: Market Update - 20 August 2018, page-37

from bloomberg news

Speaking to the Forum on China-Africa Cooperation on Monday in Beijing, Xi defended the global program to develop roads, railways, ports, pipelines and other trade links. China planned to exempt some African countries from interest-free loans due by the end of the year, Xi said, adding that the relief would be granted to unspecified poor and heavily indebted countries.



Xi Jinping with Angola’s President Joao Lourenco during the Forum on China-Africa Cooperation on Sept. 3.
Photographer: Andy Wong/Pool via Getty Images
He also announced an additional $60 billion of loans and other financing to follow on a similar amount promised three years ago. The package includes $20 billion of credit lines; $15 billion of grants, interest-free loans and concessional loans; $10 billion for a special fund; and $5 billion to support imports from Africa.

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