China is set to invest around 500 billion kronor in Africa over the next three years. This was promised by the country's president Xi Jinping when he spoke on Thursday to around 50 leaders of African countries - including South Africa's president Cyril Ramaphosa and his Kenyan counterpart William Ruto - who had traveled to Beijing to discuss the continent's economic cooperation with China.
The relations between China and Africa are in their best period ever, said Xi.
The promised funds consist of various loan solutions, grants, and investments from Chinese companies.
Xi also promised to help create one million new jobs.
China, the world's second-largest economy, is Africa's largest trading partner and has shown interest in tapping into its rich natural resources, including copper, gold, and lithium.
