By Lonah Kibet
It would also provide US$ 20 billion as grants to African countries to assist them in development
Issues discussed in the conference convened in Beijing last year will help steadily promote foreign- aid programmes, continue to expand foreign- aid trainings, earnestly promote transition as well as promote upgrading of project contracting.
They will also help to vigorously enhance bilateral trade development and actively encourage more Chinese enterprises to invest in Kenya and Africa.
Chinese Embassy to Kenya Chief of Communications and Public Affairs Shifan Yu s aid at a news conference held in their offices yesterday that Chinese President Hu Jintao had announced at the conference that China would provide Sh1,740 billion (US$ 20 billion) as grants to African countries to assist them in developing infrastructure, agriculture, manufacturing, small and medium sized enterprises in the next three years.
“Between January and December last year, China-Africa trade volume reached Sh14,259.3 billion (US$163.9 billion), an increase of 20 per cent from the previous year. Africa has become one of the new destinations of China’s overseas investment,” he s aid.
He added: “Between January and October 2012, China’s non-financial direct investment to Africa reached Sh130.5 billion (US$1.5 billion), an increase of 17 per cent compared to 2011.”
He s aid the number of Chinese enterprises in Africa exceed 2,000 covering areas of agriculture, telecommunications, energy, processing and manufacturing and catering among others.