China pledges 10 billion to Africa at summit

November 09, 2009

Chinese Prime Minister Wen Jiaobao pledged 10 billion dollars in concessional loans to Africa on Sunday, at the start of a two-day Forum on China-Africa Cooperation. He also pledged to cancel debts of African countries to boost his country's role in the continent. Beijing has been pouring investments into oil and other raw materials on the resource-rich continent to fuel China's booming economy.