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Chinese Premier Wen Jiabao has declared on Sunday that China will be providing concessional loans worth $10 billion to African nations.
The announcement was made during the Fourth Ministerial Conference of the Forum on China-Africa Cooperation (FOCAC), which was held at the Egyptian resort of Sharm el-Sheikh.
Various new initiatives for boosting the China – Africa ties have also been disclosed by the Chinese Premier.
"Whatever change may take place in the world... our policy of supporting Africa's economic and social development will not change," Wen said.
China has also put forward a plan for developing a China-Africa partnership for tackling climate change, adding that it has plans for setting up of 100 clean energy projects in Africa.
China has also plans for providing an opportunity to the African products to leave their presence in China. It will also ensure that zero-tariff treatment to 95 percent of the products will be provided for those products, starting with 60 percent of the products within 2010.
