CHINA TO INVEST N2.16TRN IN AFRICA IN THREE YEARS

The Chinese Government has expressed readiness to invest N2.16 trillion ($60 billion) in Africa in the next three years.

The Consul-General of the People’s Republic of China in Lagos, Mr Chao Xiaoliang disclosed this in a post-summit article entitled, “FOCAC Beijing Summit: A New Milestone in China-Africa Relations”. Chao said the new investment drive was one of the outcomes of the just concluded summit of the Forum on China-Africa Cooperation (FOCAC).

He said China would also in the next three years collaborate with African countries in industrial promotion, infrastructure connectivity, trade facilitation, green development, capacity building, healthcare, people-to-people, peace and security.

Chao said that the Chinese government had also planned to set up ten Luban vocational workshops and China-Africa innovation cooperation centres for youth innovation and entrepreneurship in Africa. “There will also be a tailor-made programme to train 1000 Africans, as well as offer of 50,000 government scholarships to Africans. “There will also be training opportunities for 50, 000 Africans through workshops and seminars and 2000 exchange opportunities for African youth,’’ he said.

(Vanguard)