A boy stands on a street at daybreak in Freetown, Sierra Leone, November 21, 2012. REUTERS FILE PHOTO
BEIJING — Chinese language President Xi Jinping promised to encourage Chinese language corporations to spend money on minerals-rich however economically ailing Sierra Leone as a part of Beijing’s long-term drive to deepen financial and political ties with Africa.
China has at all times regarded cooperation with African international locations as a cornerstone of its international coverage, Xi informed visiting Sierra Leone President Julius Maada Bio in Beijing on Wednesday.
Its relations with Sierra Leone are “a mannequin of unity and cooperation” for different African states,” Xi stated.
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Bio, who’s accompanied on this go to by his finance and mining ministers, is hoping to draw extra Chinese language corporations to the West African state and safe funding pledges to improve its poor infrastructure.
“We look ahead to leveraging strategic alternatives for the good thing about our two international locations,” Bio wrote on X, previously often known as Twitter, including that he thanked Xi “for his invaluable partnership and assist in direction of Sierra Leone’s socio-economic growth.”
Through the assembly, China introduced 50 million yuan ($6.95 million) in financial and technical help, a 20 million yuan debt cancellation and 1,500 tonnes of meals help for Sierra Leone, in line with a press release from Sierra Leone’s State Home.
China’s engagement with African states is predicted to tackle a much bigger focus in 2024 after the dismantling of stringent COVID-19 curbs and the re-opening its borders to the world.
For the reason that begin of 2023, it has elevated diplomatic ties with Ethiopia, Zambia, Benin, the Democratic Republic of Congo and Gabon in a continent whose pure sources have lengthy been a draw.
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China can also be eager to develop its geopolitical affect simply as the USA seeks to deepen its ties with the continent.
Xi informed Bio China will assist Africa’s drive to industrialise and to modernise its agricultural sector.
Chinese language corporations have invested $6.4 billion in Sierra Leone since 2010, knowledge from the American Enterprise Institute suppose tank reveals, predominantly in metals.
In December, Sierra Leone signed a pact with China Street and Bridge Company to construct an 8-km (5-mile) bridge crossing the river separating the capital Freetown from the nation’s principal airport at an estimated value of $1.5 billion.
Freetown has struggled to persuade international lenders that it might service any debt it’d tackle regardless of needing recent funding to rebuild following an 11-year civil conflict that led to 2002.
In November, China granted Sierra Leone $13 million to “assist the financial and social growth of Sierra Leone.”
Freetown owes Beijing round $78 million, or 2.5% of its public debt, Worldwide Financial Fund knowledge reveals, forward of South Korea, from which it has borrowed round $50 million, and India, which it owes $28 million.
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($1 = 7.1976 Chinese language yuan)
