China will waive 23 interest-free loans to 17 African countries, which matured by 2021-end, Foreign Minister and State Councilor Wang Yi said at the Forum on China-Africa Cooperation.

He pledged that China will continue to actively support and participate in the construction of major infrastructure projects in Africa through financing, investment and assistance.

“We will also continue to increase imports from Africa, support the greater development of Africa’s agricultural and manufacturing sectors, and expand cooperation in emerging industries such as the digital economy, health, green and low-carbon sectors.”

Beijing has delivered $3 billion of $10 billion of credit facilities pledged to African financial institutions since the China-Africa cooperation forum took place in Senegal in November 2021, Wang stated.

China’s import of African goods within seven months stood at $70.6 billion, while Chinese companies have invested $2.17 billion in Africa.

Beijing agreed to tariff-free entry to 98% of exports from 12 African countries this year and provided emergency food assistance to Djibouti, Ethiopia, Somalia and Eritrea, the official said.

(Editing by Seban Scaria )