China, African leaders agree on major financing, trade deals at FOCAC summit in Beijing

Source: South China Morning Post | Original Published At: 2024-09-04 14:01:17 UTC

Key Points

• China and African nations signed major agreements on infrastructure financing, green energy, and trade expansion
• Kenya secured 2 billion yuan ($281 million) for rural road construction under Belt and Road Initiative
• FOCAC summit represents largest China-Africa leader gathering since pandemic
• Xi Jinping emphasized seeking African support for China's positions at multilateral institutions

African leaders attending a summit in Beijing have secured major deals on infrastructure financing, green energy, space cooperation and trade expansion with China in bilateral meetings with President Xi Jinping.

The 9th Forum on China-Africa Cooperation (FOCAC), running from Wednesday until Friday, is the largest gathering of African and Chinese leaders since the Covid-19 pandemic.

Kenya secured 2 billion yuan (US$281 million) to finance the construction of rural roads that will serve 70 per cent of the nation’s population – part of Beijing’s revised Belt and Road Initiative to focus on “small and beautiful” projects.

“Kenya and China have excellent and cordial diplomatic relations. These ties have been mutually beneficial to our two countries, phenomenally transforming Kenya’s railway, road and port infrastructure, and deepening people-to-people exchanges,” Ruto said in the statement.