Chinese president Xi Jinping pledges $60b for Africa’s development

China’s President Xi Jinping

China’s President Xi Jinping told African presidents on Friday at a summit that his country would provide $60 billion to fund development on the continent, outlining the Asian economic giant wanted to build a relationship of equals.

Xi Jinping, who is co-chairing the Forum on China-Africa Cooperation where several African heads of state were attending, outlined a broad 10-point development plan driven by China, Reuters reported.

“To ensure the successful implementation of these 10 cooperation plans, China decides to provide a total of $60 billion dollars of funding support,” the Chinese leader said.