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Ambassador pledges $50.6b Chinese Investment to transform African Development

The Chinese Ambassador to Ghana, H.E. Tong Defa, addressed Ghanaian journalists and think tanks at a press briefing at his residence following the successful 2024 Summit of the Forum on China-Africa Cooperation (FOCAC) held in Beijing from September 4-6.

Sheila Satori Mensa by Sheila Satori Mensa
September 16, 2024
in General, Local News, News, Review, Top Stories
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The Chinese Ambassador to Ghana, H.E. Tong Defa, addressed Ghanaian journalists and think tanks at a press briefing at his residence following the successful 2024 Summit of the Forum on China-Africa Cooperation (FOCAC) held in Beijing from September 4-6.

Ambassador Tong emphasized the historical connection between China and Africa, highlighting their shared struggles against colonialism and imperialism.

“The bond between China and Africa is not just a relationship; it is a partnership forged in the fires of history,” he said.

 

The Ambassador announced China’s pledge of $50.6 billion to support 10 key initiatives in Africa, including trade facilitation, infrastructure development, healthcare improvement, and green energy projects.

This financial support will be disbursed in three forms: $29.5 billion in credits, $11.3 billion in assistance, and $9.8 billion invested by Chinese companies.

President Xi Jinping believes the 10 Partnership Actions will advance African countries’ development over the next three years. These actions include initiatives for mutual learning, trade, industrial chain cooperation, connectivity, development cooperation, health, agriculture, people-to-people exchanges, green development, and common security.

China will also encourage African leaders to issue ‘panda bonds’ in China to enhance infrastructure cooperation. The Chinese government has adopted a Beijing Declaration and Action Plan for strengthening cooperation with Africa in the next three years.

Former Ghanaian Ambassador to China, H.E. Anani Demuyakor, praised China’s governance model, suggesting Ghana and other African countries could benefit from adopting similar models tailored to their unique contexts.

Ambassador Tong concluded, “The outcome of this summit lays the groundwork for a future where the Global South takes a leading role in shaping a fair and inclusive world.” As Ghana deepens its ties with China, this partnership marks the beginning of a new phase characterized by increased collaboration, mutual respect, and a shared vision for sustainable development.

Ghana highly values its friendship with China and supports China’s stance on human rights. The FOCAC summit paints a bright future for China-Africa cooperation, with both sides committed to strengthening mutual support, promoting modernization, and building a high-level community with a shared future.

In a world undergoing significant changes, China and Africa need to stay united more than ever. The FOCAC summit demonstrates the strong partnership between China and Africa, and the two sides will continue to work together to promote common development and shared interests.

Tags: 2024 Forum on China-Africa Cooperation (FOCAC)BeijingChinese Ambassador to GhanaH.E. TONG DefaPresident Xi Jinping




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