The Chinese government has announced a sixty billion dollar fund for development projects across Africa. President XI JINPING made the announcement at the summit of Forum on China-Africa Cooperation in Johannesburg, South Africa. China exceeded expectations of the much anticipated pledge of grants, loans and development funds, much of which will go into infrastructure development. The summit is being jointly hosted by South Africa and China in a bid to deepen partnership with the continent’s largest trading partner. Nigeria’s President MUHAMMADU BUHARI is also attending the meeting and is hoping to secure China’s funding for a multi-billion dollar railway project that will connect Calabar and Lagos.
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