The financing will be provided in the form of government assistance as well as investment and financing by financial institutions and companies Xinhua news agency quoted Xi as saying in a speech at the 2018 Beijing Summit of the Forum on China-Africa Cooperation.
The financing includes $15 billion of grants interest-free loans and concessional loans $20 billion of credit lines the setting up of a $10 billion special fund for development financing and a $5-billion special fund for financing imports from Africa.
Chinese companies are also encouraged to make at least $10 billion of investment in Africa in the next three years.
--IANS mag/sed
