Sheikh, Egypt, Nov 08, SPA -- Chinese Premier Wen Jiabao on Sunday pledged 10 billion dollars in new loans to African nations for the development of infrastructure and social programs, dpa reported. He made the announcement at the start of the fourth ministerial meeting of the Forum on China-Africa Cooperation (FOCAC) in the Egyptian resort of Sharm el-Sheikh. "We will help Africa build up financing capacity. We will provide 10 billion dollars in concessional loans to African countries," Wen told the gathering of leaders from some 50 countries across Africa. The loans are to be distributed over the next three years. The two-day FOCAC meeting, opened by Egyptian President Hosny Mubarak, is to follow up on the implementation of recommendations from the last summit in Beijing in 2006. China"s 10-billion-dollar loan is double that offered at the Beijing summit and in line with an earlier promise to the African continent. -- SPA
