China's Xi pledges $10bln credit line for African financial institutions

China will also offer an additional 1bln doses of COVID-19 vaccines to African nations

  
Chinese President Xi Jinping arrives for a ceremony at the Monument to the People's Heroes on Tiananmen Square to mark Martyrs' Day, in Beijing, China September 30, 2021.

Chinese President Xi Jinping arrives for a ceremony at the Monument to the People's Heroes on Tiananmen Square to mark Martyrs' Day, in Beijing, China September 30, 2021.

Reuters/Carlos Garcia Rawlins

Chinese President Xi Jinping on Monday said a China-Africa cross-border yuan centre would be set up to provide African financial institutions with a credit line of $10 billion.

China will also offer an additional 1 billion doses of COVID-19 vaccines to African nations, Xi said in a speech to the Forum on China-Africa Cooperation, adding that China would encourage its companies to invest no less than $10 billion in Africa over the next three years.

(Reporting by Beijing Newsroom; writing by Tom Daly; Editing by Toby Chopra) ((tom.daly@thomsonreuters.com; +86 10 5669 2119;))


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