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China's Xi pledges $10 billion credit line for African financial institutions

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By Reuters
China's Xi pledges $10 billion credit line for African financial institutions
China's Xi pledges $10 billion credit line for African financial institutions   -   Copyright  Thomson Reuters 2021

– Chinese President Xi Jinping on Monday said a China-Africa cross-border yuan centre would be set up to provide African financial institutions with a credit line of $10 billion.

China will also offer an additional 1 billion doses of COVID-19 vaccines to African nations, Xi said in a speech to the Forum on China-Africa Cooperation, adding that China would encourage its companies to invest no less than $10 billion in Africa over the next three years.