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China abandons Brazil? Asian country directs R$285 billion to Africa and projects up to 1 million new jobs!

Written by Roberta Souza
Published 09/09/2024 às 20:48
China, investment, Africa, agriculture
photo/reproduction: ia

The Asian giant is intensifying its relationship with Africa, allocating massive investment in infrastructure, agriculture, health and security!

In a strategic move, the China announces that its partnerships with 53 African countries are at their best, marking a new era of cooperation and development for the continent. During the Forum on China-Africa Cooperation (FOCAC), held in Beijing, Chinese President Xi Jinping unveiled an investment package totaling $ 285 billion (360 billion yuan) over the next three years. The amount will be distributed in areas essential for African growth, such as infrastructure, agriculture, energy, mining and health. According to Xi, “relations are in the best period in history“, highlighting China’s commitment to strengthening its ties with the African continent.

A massive boost for African infrastructure and agriculture

China and Africa have formed a strategic partnership of great proportions. The investment package announced by Xi Jinping includes $ 165 billion in lines of credit to finance infrastructure projects, such as roads, railways, and power plants. Others R$63 billion will be allocated to direct assistance, While R$55 billion will come from investments by Chinese companies.

A African agriculture will also be one of the pillars of this cooperation. With more than 6,6 thousand hectares of planned agricultural demonstration areas, China intends to help Africa add value to local production and generate jobs. They will be sent 500 agricultural experts to share technical knowledge and stimulate sustainable development in the continent's agriculture. In addition, China has committed to invest about R $ million 787 in emergency food assistance, an essential measure in view of the food security challenges faced by many African countries.

This agricultural partnership seeks not only to increase productivity, but also create added value, enabling African countries to strengthen their local economies. The goal is ambitious: create 1 million new jobs on the continent, especially in rural areas.

Health and safety: pillars of China-Africa cooperation

China, investment, Africa, agriculture
photo/reproduction: ia

A cooperative between China and Africa will also expand into crucial areas such as health and security. China has pledged to send 2 thousand health professionals for the continent and to implement 20 health facility programs, with a special focus on combating malaria. This is an urgent issue, since, according to the WHO, 94% of malaria cases in the world occur in Africa, resulting in 580 thousand deaths per year. The creation of a alliance of hospitals and medical centers is also part of the plan, helping to combat diseases and improve access to public health.

Within the scope of financial security, China announced the allocation of 1 billion yuan (around R$ 787 million) to train 6 thousand African soldiers and a thousand police officers. In addition, they will be invited 500 young military leaders to visit China, strengthening the exchange of experiences and training in technology and defense.

This security cooperation is not only aimed at protecting African countries from external threats, but also contribute to regional stability, which is essential to attract even more foreign investment in the future.

Long-term economic partnership: the promise of a shared future

With this new investment package, China is not only helping Africa grow, but also seeking strengthen long-term economic and political ties. During the China-Africa Cooperation Forum, two essential documents were signed: the “Beijing Declaration on Building a Community with a Shared Future” and the “Beijing Action Plan (2025-2027)”.

China, investment, Africa, agriculture
photo/reproduction: GREG BAKER / POOL / AFP

The Chinese commitment to the Global South and with African countries is not new, but this new announcement further reinforces Beijing's intention to promote multilateralism. As Chinese Foreign Minister Wang Yi pointed out, “we want to reach a global consensus… everyone has the right to modernization“This reflects the Chinese view that Africa’s economic development can be a lever to balance global influences and promote a fairer international order.

Furthermore, China has committed to eliminate customs barriers for the least developed African countries, which include 33 countries on the continent, thus encouraging the growth of African exports to the Chinese market. Small and medium-sized enterprises will also have access to new financial support, expanding the possibilities for economic expansion and innovation.

A new breath for Africa?

With a package of BRL 285 billion in investments, China is strengthening its role as one of Africa's key development partners. The focus on infrastructure, health, agriculture and security demonstrates the Asian country's commitment to building a long-term strategic relationship, based on mutual benefits. What we can expect from this partnership is a stronger Africa, with new job opportunities, greater agricultural productivity and modernized infrastructure, while China consolidates its influence on a continent with enormous growth potential.

“We are witnessing a new era in China-Africa relations”, said Xi Jinping. And indeed, with this billion-dollar investment, China and Africa are moving together towards a promising future.

 

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Roberta Souza

Petroleum Engineer, postgraduate in Commissioning of Industrial Units, specialist in Industrial Corrosion. Get in touch to suggest an agenda, advertise job vacancies or advertise on our portal. We do not receive resumes

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