Chinese President Hu Jintao pledged $20 Billion in credit for Africa over the next three years. Speaking in Beijing at the China-Africa forum, a summit hosted for leaders from 50 African nations, Mr. Jintao announced that China promises the credit in an effort to bolster the trade ties between Africa and China. Just in 2011, trade between China and Africa reached a record $166 Billion, with China’s hunger for raw materials fuelling much of that trade. In return, Africa has benefited from significant infrastructure investing from China. The amount of credit pledged in the coming three-year period is double the loan China had given to Africa between 2009-2012.


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