Posted by News Express | 25 July 2016 | 3,169 times
A delegation from Nigeria will be leaving for Beijing, China, on Monday July 25, 2016 for the Coordinators’ Meeting on the implementation of the follow-up actions of the Johannesburg Summit of the Forum on China Africa Cooperation (FOCAC).
The Johannesburg Summit which was held in December 2015 identified 10 critical areas of cooperation between China and African countries, including Nigeria.
President Muhammadu Buhari’s visit in April this year further bolstered Nigeria’s participation in the 10 critical areas, that cover industrialization, Agricultural Mechanization, Infrastructure Development, Financial Cooperation, Green Development, Trade and Investment Facilitation, Poverty Reduction, Public Health, Cultural and People-to-People Exchange and Peace and Security.
Recently, Nigeria developed a short-list of projects which the team to China, led by the Minister of Budget and National Planning, Senator Udoma Udo Udoma, will be discussing at the FOCAC coordination meeting in Beijing during the week.
The Chinese government had pledged $60 billion assistance to African countries to develop and grow infrastructural and human development capacities. Of this amount, $35 billion is set aside for concessionary loans, $10 billion for the China - Africa Fund for Production capacity while $5 billion each is earmarked as no-interest grants; China - Africa Development Fund; and special loan for the development of Small and Medium-scale Enterprises (SMEs).
The delegation is also expected to fine-tune and strengthen the bond of relationship between the two countries by ensuring the faithful implementation of the bi-lateral agreements signed during the state visit of President Buhari to China early this year.
Udoma, said the successful implementation of Nigeria’s identified projects under FOCAC is expected to further enhance the relationship.
•Photo shows Udo Udoma.
No comments yet. Be the first to post comment.