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Climate change tops agenda for China's African assistance - Min

12 November 2009, Nasdaq
URL: http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=200911091245dowjonesdjonline000306&title=climate-change-tops-agenda-for-chinas-african-assistancemin

Sharm El Sheikh: China's commerce minister said Monday that climate change would be on the top of its agenda as it launches a new aid package to Africa. "As a developing country, China actually put environmental protection and energy conservation on top of the agenda when it comes to its assistance to Africa. These efforts include the provision of solar power equipment...as well as biogas and micro-hydro facilities," said Chen Deming at the Forum On China- Africa Cooperation, or FOCAC, at the Egyptian resort of Sharm El Sheikh.

China said Sunday it would give $10 billion in concessional loans to African countries over the next three years. Deming also urged developed countries to do more to help Africa facing the climate change issue. "On the climate change front, developed countries need to provide financial and technical assistance to developing countries, particularly African countries,” said Deming.

Deming also said China will work on enhancing Africa's capacity for agricultural production. "We will intensify human capacity building efforts for Africa's agricultural sector, by sending 250 agricultural experts and professionals to Africa every year over the next three years and training 2,000 agricultural professionals from Africa, said Deming.

China's investment in Africa has grown sharply in recent years from a low base, as China catches up with Western companies already established on the African continent. But critics say Beijing's no-strings-attached investments and loans undercut political and economic reform efforts by Western governments and such bodies as the World Bank.  Chinese investment in Africa reached $26 billion by the end of 2008 and trade between China and Africa hit $106.8 billion.