Anticipated chinese commitments to africa -source 2015
Total Chinese Foreign Direct Investment in Africa between 2005 and 2016 was estimated at US$293.36 billion by the Heritage Foundation. • The Chinese side will scale up its investments in Africa, and plan to increase China’s stock of direct investment in Africa to US$100 billion in 2020 from US$32.4 billion in 2014. • Construction is underway for the six Chinese overseas economic and trade cooperation zones in countries including Zambia, Mauritius, Nigeria, Egypt, and Ethiopia. These cooperation zones offer incentives such as tax holidays and import tax waivers to attract Chinese companies and other Foreign Direct Investments. Some of the zones have witnessed progress in attracting investment, with businesses moving in and production getting started. In addition to investment the zones are expected to provide employment and technology transfer to further economic development. • Special loan of US$1 billion for African Small and Medium Enterprises development will be gradually expanded to $6 billion. • The Chinese side will set up a China-Africa production capacity cooperation fund, with an initial pledge of US$10 billion, to support China-Africa industry partnering and industrial capacity cooperation.
EDUCATION • UNESCO established a one-to-one inter-institutional cooperation model - the 20+20 Plan for Chinese and African Institutions of Higher Education. • The Chinese government will implement the “African Talents Program”. In the next three years, China will train 30,000 African professionals in various sectors and offer 18,000 government scholarships • China will provide US$2 million annually under the framework of the UNESCO trust fund to support education development programs in Africa. • The Chinese side welcomes the inclusion by African countries of Chinese language teaching as part of their national education systems and will support more African countries in their efforts to establish Confucius Institutes and Confucius Classrooms. • China provided training for 200,000 local African vocational and technical personnel an