{"id":2963,"date":"2018-09-04T19:24:31","date_gmt":"2018-09-04T19:24:31","guid":{"rendered":"http:\/\/qatar-tourism.com\/Ar\/2018\/09\/04\/at-china-africa-summit-officials-dismiss-debt-criticism\/"},"modified":"2018-09-04T19:24:31","modified_gmt":"2018-09-04T19:24:31","slug":"at-china-africa-summit-officials-dismiss-debt-criticism","status":"publish","type":"post","link":"https:\/\/qatar-tourism.com\/Ar\/2018\/09\/04\/at-china-africa-summit-officials-dismiss-debt-criticism\/","title":{"rendered":"At China-Africa summit, officials dismiss debt criticism"},"content":{"rendered":"
\n

Chinese and African officials have rejected criticism of Beijing’s development projects on the continent as they ended a summit that included a $60bn pledge for more aid to the continent.<\/p>\n

President Xi Jinping<\/a> hosted leaders from across Africa<\/a>\u00a0amid questions about whether his country’s Belt and Road<\/a> global trade infrastructure initiative is worsening debt problems in some countries.<\/p>\n

“Everything we do with China<\/a> is perfectly under control, including on the financial and debt side,” Senegal’s President Macky Sall<\/a> said on Tuesday at the end of the two-day summit.<\/p>\n

“We shouldn’t let our conscience be disturbed by criticism made regarding the nature of our relations with China,” Sall said.<\/p>\n

South African President Cyril Ramaphosa<\/a> said one of the summit’s main achievements was an agreement to “work hard to increase Africa’s value-added exports to China”.<\/p>\n

For his part, Xi said the summit “opened a new chapter in the history of China-Africa relations”.<\/p>\n

Debt forgiveness<\/h2>\n

On the opening day of the summit on Monday, Xi offered $60bn in financial support<\/a> to African countries over the next three years. He <\/span>said the debt of the continent’s poorest nations will be written off.<\/p>\n

The Chinese president said the figure included $15bn in grants, interest-free loans and concessional loans, a credit line of $20bn, $10bn for “development financing” and $5bn to buy imports from the continent.<\/p>\n

Chinese companies will be encouraged to invest no less than $10bn in African countries in the next three years, he added.<\/p>\n

The money comes on top of $60bn offered at the last summit in 2015.<\/p>\n

China’s special envoy for African affairs, Xu Jinghu, said Beijing would be “very conscientious” in its cooperation with Africa and conduct feasibility studies before choosing projects.<\/p>\n

“China has not increased the debt burden of Africa,” she told reporters.<\/p>\n

\n
\n\n\n\n\n
<\/td>\n<\/tr>\n
Chinese companies have carried out many infrastructure projects in Africa like the Ethiopian Light Rail Transit [EPA]<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n

Costly aid<\/h2>\n

Xi’s cherished Belt and Road project has already seen China loan billions of dollars to countries in Asia and Africa for roads, railways, ports and other infrastructure projects.<\/p>\n

Critics have warned that the Chinese leader’s pet project is burying some countries under massive debt.<\/p>\n

Beijing loaned around $125bn to African nations between 2000 and 2016, according to data from the China-Africa Research Initiative at Washington’s Johns Hopkins University School of Advanced International Studies.<\/p>\n

A study by the Center for Global Development, a US think-tank, found “serious concerns” about the sustainability of sovereign debt in eight Asian, European and African countries receiving Chinese funds.<\/p>\n

Locals in some countries have complained about the practice of using Chinese labour for building projects and what are perceived to be sweetheart deals for Chinese companies.<\/p>\n

The concerns are likely to grow as countries in other parts of the world begin to question whether Chinese aid comes at too high a price.<\/p>\n

“Time has come for African leaders to critically interrogate their relationship with China,” an editorial<\/a> in Kenya’s Daily Nation said on Monday.<\/p>\n<\/div>\n

\n

\n SOURCE: Al Jazeera and news agencies<\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Chinese and African officials have rejected criticism of Beijing’s development projects on the continent as they ended a summit that included a $60bn pledge for more aid to the continent. 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