On August 18, 2022, State Councilor and Foreign Minister Wang Yi presided over a meeting of coordinators for the implementation of the outcomes of the 8th Ministerial Conference of the Forum on China-Africa Cooperation in Beijing via video.
Wang Yi said that the commitments made by China at the 8th Ministerial Conference of the Forum on China-Africa Cooperation are all being steadily implemented despite difficulties and interference.
For more than half a year, China has provided more than 3 billion U.S. dollars of credit to African financial institutions, and has provided loans of nearly 2.5 billion U.S. dollars to key African projects; China has provided more than 2 billion U.S. dollars of trade financing to Africa with a 10-billion-dollar trade financing line,7 Imports from Africa totaled $70.6 billion during the month.
Since the beginning of this year, China and Africa have signed an exchange of letters with 12 African countries regarding zero tariffs on 98% of products exported to China.
Chinese enterprises' investment in Africa increased by 2.17 billion US dollars.
China will lend $10 billion in Special Drawing Rights to Africa through the International Monetary Fund's (IMF) Poverty Reduction and Growth Trust and Resilience and Sustainability Trust channels, and push the IMF to direct Chinese funds to Africa.
Since the 8th Ministerial Conference of the Forum on China-Africa Cooperation, a large number of major projects have been completed, such as the Senegal Fangjiuni Bridge, the Kenya Airport Expressway, the Cameroon Kribi-Rollabe Expressway, and Egypt's "10 Days of Ramadan City" suburban railway. , which will effectively promote the process of industrialization in Africa.
Wang Yi emphasized that China's promotion of cooperation with Africa is entirely based on the needs of the African side.
China is willing to enhance the independent development capability of African countries through China-Africa cooperation, so that African people can live a better life.