Xi Jinping Pledges $51 Billion Aid to Africa, Focuses on Green Tech and Job Creation

President Xi Jinping announced China's increased support for African nations with nearly $51 billion in funding. This includes infrastructure initiatives, advanced technology exports, and job creation. Xi emphasized deepening cooperation in trade and investment, while also pivoting towards clean energy projects to aid industrialization efforts across the continent.

President Xi Jinping announced on Thursday that China would enhance its support to Africa with a funding package of nearly $51 billion. This initiative aims at bolstering infrastructure projects and creating at least 1 million jobs on the continent.

Addressing delegates from over 50 African nations in Beijing, Xi revealed plans for 30 new infrastructure projects and pledged financial assistance amounting to 360 billion yuan ($50.70 billion). Xi emphasized the need for enhanced cooperation in industry, agriculture, trade, and investment.

Xi also detailed a $300 billion market access initiative and 30 new clean energy projects aimed at alleviating Africa's power deficit. However, challenges remain, such as China's stringent phytosanitary rules that affect market access for African goods.

(With inputs from agencies.)