China's Xi offers $60 bn Africa aid, says 'no strings attached'

Yahoo – AFP, Ben Dooley, September 3, 2018

President Xi Jinping insisted that China will not impose its will on Africa despite
a huge investment program (AFP Photo/Lintao Zhang)

President Xi Jinping told African leaders Monday that China's investments on the continent have "no political strings attached", pledging $60 billion in new development financing, even as Beijing is increasingly criticised over its debt-heavy projects abroad.

Xi offered the funding at the start of a two-day China-Africa summit that focused on his cherished Belt and Road initiative. The money -- to be spent over the next three years -- comes on top of $60 billion Beijing offered in 2015.

The massive Belt and Road scheme is aimed at improving Chinese access to foreign markets and resources, and boosting Beijing's influence abroad.

China has poured billions in loans for roads, railways, ports and other major infrastructure projects in Asia and Africa.

But critics warn that the Chinese leader's pet project is burying some countries under massive debt.

"China's investment in Africa comes with no political strings attached," Xi told a high-level dialogue with African leaders and business representatives ahead of the summit.

"China's cooperation with Africa is clearly targeted at the major bottlenecks to development. Resources for our cooperation are not to be spent on any vanity projects, but in places where they count the most."

But Xi admitted there was a need to look at the commercial viability of projects and make sure preparations are made to lower investment risks and make cooperation "more sustainable".

Belt and Road, Xi said, "is not a scheme to form an exclusive club or bloc against others."

Later, at the start of the Forum on China-Africa Cooperation (FOCAC), Xi announced $60 billion in funds for eight initiatives over the next three years, in areas ranging from industrial promotion, infrastructure construction and scholarships for young Africans.

He added that Africa's least developed, heavily indebted and poor countries will be exempt from debt they have incurred in the form of interest-free Chinese loans due to mature by the end of 2018.

South Africa's President Cyril Ramaphosa reviews an honour guard at the 

Great Hall of the People (AFP Photo/Andy Wong)

'New colonialism'

A study by the Center for Global Development, a US think-tank, found "serious concerns" about the sustainability of sovereign debt in eight Asian, European and African countries receiving Belt and Road funds.

But South African President Cyril Ramaphosa defended China's involvement on the continent, saying FOCAC "refutes the view that a new colonialism is taking hold in Africa as our detractors would have us believe."

During a visit to China last month, Malaysian prime minister Mahathir Mohamed warned against "a new version of colonialism", as he cancelled a series of Chinese-backed infrastructure projects worth $22 billion.

Rwandan President Paul Kagame, current chairman of the African Union, also rallied behind China's involvement in Africa.

"Africa is not a zero sum game. Our growing ties with China do not come at anyone's expense," he told the summit.

'Fractured world'

At the last three-yearly gathering in Johannesburg in 2015, Xi announced $60 billion of assistance and loans for Africa.

Nations across Africa are hoping that China's enthusiasm for infrastructure investment will help promote industrialisation on the continent.

China has provided aid to Africa since the Cold War, but Beijing's presence in the 

region has grown exponentially with its emergence as a global trading power 

(AFP Photo/Yasuyoshi CHIBA)

Ramaphosa noted that Africa exports its minerals to China while the Asian country exports to the continent what its factories produce.

"This obviously limits ability African countries to extract full value of abundant natural resources and create work for its people. It is through platforms like FOCAC that we should work to balance the structure of trade between Africa and China," he said.

Nigerian President Muhammadu Buhari will oversee the signing of a telecommunication infrastructure deal backed by a $328-million loan facility from China's Exim bank during his visit, his office said.

China has provided aid to Africa since the Cold War, but Beijing's presence in the region has soared with its emergence as a global trading power.

Chinese state-owned companies have aggressively pursued large investments in Africa, whose vast resources have helped fuel China's transformation into an economic powerhouse.

African Union Commission chairman Moussa Faki acknowledged that concerns have been expressed about debt, but said "the risks must be put into perspective" as "Africa's financing needs are such that it must seize every opportunity offered to it."

Djibouti has become heavily dependent on Chinese financing after China opened its first overseas military base in the Horn of Africa country last year, a powerful signal of the continent's strategic importance to Beijing.

Locals in other countries have complained about the practice of using Chinese labour for building projects and what are perceived as sweetheart deals for Chinese companies.

An editorial in Kenya's Daily Nation said Monday that African leaders "should use the summit to ask tough questions. What are the benefits in this relationship? Is China unfairly exploiting Africa like the others before it?"

China's Xi says 'no strings attached' to Africa investments as Beijing increasingly criticised over its debt-heavy projects abroadhttps://t.co/J5zkE9lAL4 @AFPgraphics on top investors in Africa, with China in fourth place, according to UNCTAD data pic.twitter.com/zY7TLSoG3r

— AFP news agency (@AFP) September 3, 2018

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“… The Future of the Illuminati

Now, I want to tell you something that you didn't expect and something I've reported only one other time. What about all of the money that the Illuminati has? There are trillions and trillions of euro in banks, under their control, waiting. What are they going to do with it and where are they going to use it? It's still here. They're waiting.

This group is waiting for something to happen that they know is going to happen, for they see it coming as much as I do. However, I would like to tell you something that they don't expect. With awareness comes generational shift. Those in charge of this money will not always be elders. The indigos eventually will have it.

They are waiting for something to happen in Africa - the building of a new civilization, a continent that has nothing to unlearn. Once Africa is cured, once it's ready, a new civilization can be created from the ground up. Africans will be ready to learn everything about building a foundation for the most advanced civilization ever and will do it with the most modern and inventive systems available. Eventually, this new continent will even beat the economics of China.

This is the prediction and always has been, and the Illuminati's money will fund it. Did I say the Illuminati will fund it? [Kryon laugh]The Illuminati's money will fund it, but there is a difference from the past, dear ones. The ones who inherit the positions in the Illuminati will be a different consciousness. Listen, they are not suddenly going to be the ones who have the good of everyone in their hearts - hardly. They want to make money, but what they will see instead is a way to make a great deal of money through this investment. In the process, it will automatically help hundreds of thousands, and they will be at the beginning, the foundation, that builds the new Africa. The new African states of unification eventually will create a continent stronger than any of the others, and it will have one currency. The resources alone will dwarf anything in the world.

"Wow, Kryon, how long is that going to take?"

The Humans in the room control that and those listening later and reading. When you leave this room, what are you going to do? Go home, report this, rub your hands together, and wait for it to happen? It won't. For the Humans in the room and the old souls hearing and reading have got work to do, and I've told you this before. You've got work to do.

There's an alliance that you're going to have to create with one another and with another group - the young people of Earth. The youth of this earth are changing the way things work. Can you see it? You're not supposed to sit around and watch them either, because they need you, old soul.

It's time for you to align with the indigos and the concepts of the youth of the planet. Do not think for a moment that their age shows their wisdom. These two attributes are not commensurate with one another; they're not linear. These young people may be older souls than you are! Don't think that because they've got technology that you don't understand that you can't be one with them. Their technology is social networking, the very thing we are talking about, where everyone can talk to everyone. The new consciousness on the planet starts in two areas - the children and the old souls.. …”

"The End of History"- Nov 20, 2010 (Kryon channeled by Lee Carroll)

".. Africa

Let me tell you where else it's happening that you are unaware - that which is the beginning of the unity of the African states. Soon the continent will have what they never had before, and when that continent is healed and there is no AIDS and no major disease, they're going to want what you have. They're going to want houses and schools and an economy that works without corruption. They will be done with small-minded leaders who kill their populations for power in what has been called for generations "The History of Africa." Soon it will be the end of history in Africa, and a new continent will emerge.

Be aware that the strength may not come from the expected areas, for new leadership is brewing. There is so much land there and the population is so ready there, it will be one of the strongest economies on the planet within two generations plus 20 years. And it's going to happen because of a unifying idea put together by a few. These are the potentials of the planet, and the end of history as you know it.

In approximately 70 years, there will be a black man who leads this African continent into affluence and peace. He won't be a president, but rather a planner and a revolutionary economic thinker. He, and a strong woman with him, will implement the plan continent-wide. They will unite. This is the potential and this is the plan. Africa will arise out the ashes of centuries of disease and despair and create a viable economic force with workers who can create good products for the day. You think China is economically strong? China must do what it does, hobbled by the secrecy and bias of the old ways of its own history. As large as it is, it will have to eventually compete with Africa, a land of free thinkers and fast change. China will have a major competitor, one that doesn't have any cultural barriers to the advancement of the free Human spirit. …."