China is ramping up its collaboration with African nations under the Global Development Initiative (GDI), a strategy introduced in September 2021 to bridge the North-South divide and support developing countries. Integrating GDI with the African Union's Agenda 2063, China has deepened its partnership through successive Forum on China-Africa Cooperation (FOCAC) summits.
From the initial 10 major cooperation plans proposed in 2015 to the comprehensive 10 partnership actions for modernization highlighted at the 2024 Summit, China-Africa cooperation continues to expand. Key focus areas include enhancing infrastructure, improving financing mechanisms, and generating employment opportunities.
Chinese enterprises have been instrumental in building over 10,000 kilometers of railways, nearly 100,000 kilometers of roads, 1,000 bridges, 100 ports, 66,000 kilometers of power lines, and 150,000 kilometers of communication networks across Africa. Projects like the Mombasa-Nairobi railway have created nearly 50,000 jobs, while the Addis Ababa Djibouti Railway and Angola's Benguela Railway have provided thousands of employment and training opportunities for local communities.
Adopting models such as build-operate-transfer and public-private partnerships, Chinese companies are transitioning infrastructure cooperation towards integrated investment, construction, and operation. At the recent FOCAC Summit, China announced a substantial financial commitment of 360 billion yuan ($50.8 billion) to Africa over the next three years, comprising credit lines, various forms of assistance, and direct investments by Chinese firms. Additionally, the encouragement of Panda Bonds issuance by African nations in China is set to bolster future cooperation.
These strategic measures are expected to significantly contribute to Africa's sustainable development, aligning with both China's and Africa's long-term growth objectives.
Reference(s):
cgtn.com
