KENYA: Chinese FM says Africa will benefit hugely from inproved infrastructure

Record ID: 361262

  • Title: KENYA: Chinese FM says Africa will benefit hugely from inproved infrastructure
  • Date: 7th January 2010
  • Summary: NAIROBI, KENYA (JANUARY 6, 2010) (REUTERS) GENERAL VIEW OF NEWS CONFERENCE VARIOUS OF JOURNALISTS AT THE NEWS CONFERENCE (SOUNDBITE) (English) CHINA FOREIGN MINISTER, YANG JIECHI, SAYING: "We believe that for Africa to further take off, it is very important to build up the infrastructure in Africa so that African countries can conduct inter-regional trade on a massive
  • Embargoed: 22nd January 2010 12:00
  • Keywords:
  • Location: Kenya
  • Country: Kenya
  • Topics: International Relations
  • Reuters ID: LVA1JNADB4T2CCCHSTYPXB5XV8WG
  • Story Text: China says building infrastructure in Africa and regional trade between African countries is the main way to boost African economies.
    Chinese Foreign Minister Yang Jiechi, speaking in Nairobi on the first stop of his African tour, said: "We believe that for Africa to further take off, it is very important to build up the infrastructure in Africa so that African countries can conduct inter-regional trade on a massive scale because the African countries economies to a large scale are cut-out for each other".
    China also announced on Wednesday (January 6) that it would give Kenya a 540 million shilling ($7.16 million U.S. dollar) grant to support various development projects in east Africa's biggest economy.
    The agreement was unveiled Yang's visit. Yang is on a five-nation tour of the world's poorest continent.
    In November, China's government said it would offer Africa $10 billion U.S. dollars in concessional loans over the next three years as the country aims to boost a relationship which is economically booming, to the discomfort of some in the West.
    "The trade between China and Africa of 100 billion U.S. dollars and I think we can still push up the figures and we also need to branch into new fields of cooperation," Yang said.
    Beijing says it also plans to help Africa develop clean energy generation and cope with climate change, encourage Chinese financial institutions to lend to smaller African companies and expand market access for African products.
    Yang's trip takes him to Nigeria on Thursday (January 7), then to Sierra Leone, Algeria and Morocco. He then goes to Saudi Arabia.
    ENDS.
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