BEIJING, Nov 4 (Reuters) - China will provide $5 billion in loans and credits to Africa over the coming three years and double aid to the backward but resource rich continent by 2009, China's President Hu Jintao said on Saturday.

Hu told delegates from more than 40 African nations who gathered in Beijing that China would provide $3 billion in preferential loans and $2 billion in preferential buyer's credits to Africa.

"Our meeting today will go down in history," Hu told the China-Africa Summit.

China also would double its 2006 assistance to Africa by 2009 in an effort to forge a new type of strategic partnership and strengthen cooperation in more areas and at a higher level, Hu said.

AlertNet news is provided by

Delicio.us  |   Digg  |   NewsVine  |   Reddit                                                                                  Permalink