September 3, 2018 / 9:34 AM / 19 days ago

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

BEIJING (Reuters) - China will provide $60 billion (£46.5 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.

(The story was refiled to correct the third paragraph to say China will expand imports from Africa especially for non-resources products, not resources products)

Reporting by Ben Blanchard; Editing by Darren Schuettler

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