China's eight measures mean long-term benefits for Africa: FM spokesman

08:51, November 11, 2009      

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China's eight measures announced in Egypt to assist African countries would have long-term benefits, said Chinese Foreign Ministry spokesman Qin Gang on Tuesday.

"The measures focus on helping them overcome the financial crisis, and also on long-term strategic areas such as improving living standards and sustainable development," Qin told a regular press conference.

Chinese Premier Wen Jiabao on Sunday announced eight new measures to enhance cooperation with Africa when addressing the opening of the ministerial meeting of the Forum on China-Africa Cooperation (FOCAC) in Egypt.

According to the measures, China will provide 10 billion U.S. dollars in concessional loans to African countries and support Chinese financial institutions in setting up a special loan of 1 billion dollars for small and medium-sized African businesses.

China also pledged to phase in zero-tariff treatment on 95 percent of products from the least developed African countries, and to promote cooperation on agriculture, infrastructure, ecological and environmental protection, and social welfare.

"All measures will benefit African countries now and in the long run," Qin said.

Qin said China would keep contact and consultation with the African nations on how the loans were used.

Source: Xinhua
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