Facts:
- China has pledged $60 billion of financial assistance to Africa to bolster industry, counter hunger, and enhance security in the continent.
- Out of $60 billion offered, China will disburse $15 billion as aid, interest-free loans and concessional loans, $20 billion as credit line, channel $10 billion into special fund for China-Africa development and $5 billion special fund will be set up only for African imports.
Challenges:
- China is emerged as Africa’s largest trading partner
- China’s current hold in trade and investment in Africa is three times India’s
