China pledges $20bn in credit for Africa at summit
President Hu Jintao
made the announcement at a summit in Beijing with leaders from 50 African nations.He said the loans would support infrastructure, agriculture and the development of small businesses.
Loan doubled from 2009 - $166bn trade China Africa
The loan is double the amount China pledged in a previous three-year period in 2009, since which time China has been Africa's largest trading partner. Trade between the two hit a record high of $166bn in 2011, Chinese Commerce Minister Chen Deming wrote in the China Daily newspaper, ahead of the two-day forum.