Connect with us

Government

China Says Africa Projects Should be Sustainable, Denounces Criticism

Published

on

Xi Jinping
  • China Says Africa Projects Should be Sustainable, Denounces Criticism

Chinese development projects in Africa must be sustainable, the government’s top diplomat told senior African ministers on Tuesday, as he denounced “outside forces” who seek to vilify cooperation by accusing China of creating debt traps.

Chinese President Xi Jinping pledged $60 billion to African nations at a China-Africa summit on cooperation in September, matching the size of funds offered at the previous summit in Johannesburg in 2015.

Beijing has denied engaging in “debt trap diplomacy” and Xi said in September government debt from Chinese interest-free loans due by the end of the year would be written off for the poorest African nations.

Chinese State Councillor Wang Yi told foreign and other ministers from some 50 African countries in Beijing his country does not pursue selfish geopolitical gains in Africa and would never impose its will on others.

He said China’s approach to cooperation with Africa had been different to that of traditional powers.

“For some time, however, some outside forces have tried to vilify and undermine China-Africa cooperation by cooking up (accusations of) so-called neo-colonialism and debt traps, which are totally groundless and are not accepted by African people,” Wang said.

“Such attempts expose a total lack of respect for Africa, lack of understanding about China, absence of knowledge about the true friendship between China and Africa that has stood the test of time,” he said.

Joint projects must be sustainable, he said.

“We need to take forward project cooperation in such a way as to ensure real economic and social benefits and respect market principles,” Wang said.

African countries running up debt they won’t be able to pay back, including to China, should not expect to be bailed out by Western-sponsored debt relief, the United States’ top Africa diplomat warned on Sunday.

The International Monetary Fund (IMF) and World Bank began the Heavily Indebted Poor Countries Initiative in 1996 to help the world’s poorest countries clear billions of dollars of unsustainable debt.

However, Africa is facing another potential debt crisis, with around 40 percent of low-income countries in the region now in debt distress or at high risk of it, according to an IMF report released a year ago.

Wang said the world should respect Africa.

“The African continent is the independent homeland for the 1.4 billion people of Africa, not a sphere of influence for any major country,” he said.

Reuters

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Government

Sanwo-Olu Orders Full Reopening of Markets

Published

on

Coronavirus

Governor of Lagos State Orders Full Reopening of All Markets

Governor Sanwo-Olu of Lagos has ordered the full reopening of markets in the state after a report showed new cases of COVID-19 have subsided.

The governor ordered the full reopening of both the food markets and non-food markets across the metropolis.

Dr. Wale Ahmed, the Commissioner for Local Government and Community Affairs, disclosed this in a statement issued on Tuesday.

He said the governor took the decision to further deepen trade and commerce and ease the hardship of recent happenings.

It should be recalled that the markets were shut due to the outbreak of ravaging COVID-19 pandemic in March before they were partially reopened for activities in May.

The governor, however, urged all traders to observe all safety protocols in order to prevent a possible resurgence of COVID-19 in the state.

Continue Reading

Government

Private Sector Coalition Against COVID-19 (CACOVID) Speaks on Looted Palliatives, Explains Delay

Published

on

looted palliatives

Looted Palliatives: Private Sector Coalition Against COVID-19 (CACOVID) Speaks

Private Sector Coalition Against COVID-19 (CACOVID) has spoken on the recent actions of criminals and thugs who hijacked the #EndSARS protest and looted warehouses where COVID-19 palliatives were kept for distributions.

The group refuted claims that the stolen items were hoarded for certain people instead of distribution to the vulnerable they were meant for. This is despite the fact that some of the palliatives were already rotten by the time criminals broke into the warehouses.

Some of the looters, who spoke with the press, said a sizeable number of the items were already rotten and destroyed by rodents, while one of the lawmakers tasked with distribution claimed he planned to distribute the items on his birthday. A statement that angered many Nigerians.

However, in a statement issued on behalf of the group by Osita Nwanisobi, the Acting Director of Corporate Communications, CBN, on Monday, CACOVID said due to the huge size of the items meant to be distributed, the complex process involved in manufacturing, packaging and the eventual distribution to 2 million most vulnerable families across the 774 local government in the country, the group agreed to conduct the supply in stages, especially given locked down imposed by the Federal Government during the period.

The statement reads, “Members of the Private Sector-led Coalition Against COVID-19 (CACOVID) wish to call for calm, amidst the looting of COVID-19 palliatives meant for distribution in various State Government warehouses across the country.

“The Coalition is deeply concerned by the recent events and is urging those involved in the wanton destruction of public and private property to immediately desist from these raids, in order to allow the States to proceed with a peaceful and fair distribution of these palliatives to the neediest and most vulnerable in our society.

“Over the past few months, the private sector, through CACOVID has been working with governors, the FCT Minister, and the Nigerian Governors’ Forum (NGF) to procure, deliver, and distribute these food relief items to almost 2 million most vulnerable families (over 10 million Nigerians) across the 774 local government areas of the country, as part of the private sector’s support towards the national response to the COVID-19 pandemic.

“The sheer scale of this nationwide food programme and the timing of the orders and deliveries, which coincided with the lockdowns and reduced movement across the country, compelled CACOVID to roll out distribution in a staggered manner.

“The very large size of the order and the production cycle required to meet the demand caused delays in delivering the food items to the states in an expeditious manner; hence, the resultant delay in delivery of the food palliatives by the state governors.”

Continue Reading

Government

Makinde Directs Schools to Reopen After #EndSARS Protest

Published

on

education

Schools to Reopen After #EndSARS Protest, Says Governor Makinde

The Executive Governor of Oyo State, Seyi Makinde, has directed schools across the Ibadan metropolis to resume normal activities immediately after the #EndSARS protest.

Mr Olasunkanmi Olaleye, the commissioner for education, Oyo State, disclosed this in a statement issued on Sunday in Ibadan.

According to Olaleye, the directive was after a careful review of the situation in the Ibadan metropolis as promised by Governor Makinde in a state broadcast on October 20.

This was after the governor ordered the closure of all schools, private and public, in the Ibadan metropolis for three days and promised to review the situation on October 23.

Olaleye said the governor thanks the youths who have been cooperating with security operatives in the state to ensure peace and order.

Continue Reading

Trending