China to boost aid to Africa as ties blossom

By Ben Blanchard and Cynthia Johnston

SHARM EL-SHEIKH, Egypt (Reuters) - Chinese Premier Wen Jiabao offered Africa $10 billion in concessional loans over the next three years on Sunday, saying China was a "true and trusted friend" of the continent and its people.

The aid offer is double that unveiled by President Hu Jintao at the last summit in Beijing in 2006, as China aims to boost a relationship which politically goes back decades and is now economically booming, to the discomfort of some in the West.

Wen brushed aside concerns that China was only interested in Africa's natural resources to help feed its booming economy.

"China's support for Africa's development is real and solid and, in the future, no matter what turbulence the world undergoes, our friendship with the people of Africa will not change," he told a summit in the Egyptian resort of Sharm el-Sheikh.

Besides the loans, Wen said China would help Africa develop clean energy and cope with climate change, encourage Chinese financial institutions to lend to smaller African firms and expand market access for African products.

He also called for greater international help for the continent.

"Africa's development is an essential part of achieving global development, and as the sincere and dependable friend of Africa, China deeply feels the difficulties and challenges faced by Africa," We said.

"China calls on the international community to enhance its sense of urgency, and support Africa's development in an even truer and more effective way."