FOCAC: China Financial Investment in Africa
1,005 views · Published 27 August 2018 · 1:08 · Indexed 29 September 2026
Channel: CGTN Africa · 2018 · News & Politics
China increased the China-Africa Development Fund to 10 billion US dollars and set up a new $10 billion fund focusing on China-Africa industrial capacity cooperation. Financial institutions such as the Export-Import Bank of China have been setting up branches in Africa. A number of joint-venture banks have also been established. These institutions serve the purpose of providing financing services for infrastructure construction such as the Mombasa–Nairobi Standard Gauge Railway, jointly-built industrial parks, and cotton cultivation programs etc, meanwhile offering strong financial support and service guarantees for the industrialization and modernization of Africa. Subscribe to us on YouTube: http://ow.ly/Zvqj30aIsgY Follow us on: Facebook: https://www.facebook.com/cgtnafrica/ Twitter: https://twitter.com/cgtnafrica
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