China Pledges Billions in New Aid to Africa Amid Growing Debt Concerns

Chinese President Xi Jinping announced a $50 billion (360 billion yuan) financial support package for African nations during the Forum on China-Africa Cooperation in Beijing. The aid, spanning three years, includes loans, investment incentives, and military training as part of China’s increasing diplomatic push in Africa.

Xi’s promises cover a wide range of sectors, including trade, infrastructure, health, security, and education. Out of the 360 billion yuan, 210 billion yuan will be in loans, while 70 billion yuan is allocated to promote Chinese business investment in Africa.

This initiative aligns with China’s efforts to strengthen ties with the Global South, but concerns have emerged regarding the debt burden on African countries. Analysts have also raised issues about transparency and the structure of China’s lending.

Xi also committed to aiding Africa’s security by offering free aid worth 1 billion yuan to train military and police personnel. Additional support includes tariff removals for 33 less-developed African nations, building vocational facilities for 60,000 students, and providing emergency food aid.

The package is seen as part of China’s broader strategy to enhance its influence in the Global South, but concerns over debt sustainability and transparency in loan agreements have been raised by analysts.