Xi Jinping Promises One Million Jobs for Africa and $51 Billion in Development Funds

China’s President Xi Jinping pledges $51 billion in new investments and one million jobs for Africa at the China-Africa Cooperation Forum. 

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Chinese President Xi Jinping has committed to creating one million jobs in Africa as part of China’s efforts to strengthen its ties with the continent. 

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During the Forum on China-Africa Cooperation (FOCAC) on Thursday, Xi announced that China would provide Africa with 360 billion yuan ($51 billion) in new financing, including funding for 30 infrastructure projects aimed at enhancing connectivity.

Speaking to representatives from over 50 African countries, Xi highlighted that 210 billion yuan ($29.5 billion) would be made available through credit lines, and 70 billion yuan ($9.8 billion) would be allocated for new investments by Chinese companies. 

He emphasized that this initiative would contribute to the broader goal of modernizing the Global South.

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Xi noted that China and Africa have a long history of cooperation, pointing out infrastructure projects such as roads, railways, and industrial parks that have transformed lives across the continent. 

He also urged both regions to continue collaborating on land and sea links.

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