September 3, 2018 / 9:32 AM / 2 months ago

Corrected: China to provide $60 billion in financial support to Africa, Xi says

Chinese President Xi Jinping speaks during the High-level Dialogue between Chinese and African Leaders and Business and Industry Representatives at the sixth China-Africa Entrepreneur Conference at the Beijing National Convention Center in Beijing, China September 3, 2018. Lintao Zhang/Pool via REUTERS

(Corrects third paragraph to say China will expand imports from Africa especially for non-resources products, not resources products)

BEIJING (Reuters) - China will provide $60 billion in financial support to Africa, President Xi Jinping said on Monday at the opening of a major China-Africa summit.

The support will be provided in the form of government assistance as well as investment and financing by financial institutions and companies, Xi said in a speech carried live on state television.

China will also expand its imports from Africa, especially for non-resources products, and will facilitate African financial institutions’ bond issuances in China, Xi added.

Reporting by Ben Blanchard; Editing by Darren Schuettler

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