Han Zheng Attends and Addresses the Summit on the Financing of African Economies
2021/05/19

On the evening of May 18, 2021, member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee and Vice Premier Han Zheng attended and addressed the Summit on the Financing of African Economies in Beijing via video link.

Han Zheng said, China and Africa have formed a community with a shared future and the two share a common stake, as indicated by President Xi Jinping. Since the COVID-19 struck the world, China has worked actively to assist Africa and opened a new chapter in supporting each other through thick and thin with Africa.

Han Zheng pointed out, in the face of the pandemic, restoring and continuing the development momentum in Africa is of vital importance. To this end, China brings forth four initiatives: First, honor promises to help alleviate the debt pressure upon Africa. China will fully implement the G20 Debt Service Suspension Initiative and is ready to continue to work with the international community to help ease African countries' debt burden in accordance with the principle of "joint action and equitable burden". China hopes that developed countries, multilateral financial institutions and commercial creditors will take concrete actions. China supports the on-lending of the Special Drawing Rights (SDRs) to low-income African countries in need by countries with a large reserve of SDRs. Second, persist in win-win cooperation to promote economic recovery in Africa. China supports international financial institutions and private sectors in expanding financing for Africa's long-term development and strengthening of infrastructure and capacity building, and helping African countries sustain economic development on an independent footing. Third, follow green development to push the transformation of Africa's growth. China is ready to engage in dialogue and exchanges with other countries on the Great Green Wall project and share useful experiences with them. Fourth, continue to pull through hardships with Africa and promote the fair distribution of vaccines to Africa. China will continuously provide Africa with vaccine assistance and help promote the commercial procurement of vaccines by relevant countries from China. He hopes that the international community, especially developed countries, could provide greater support and assistance to ensure the accessibility and affordability of vaccines in African countries.

Initiated by France, the Summit on the Financing of African Economies was held online and offline, and adopted the Statement of the Summit on the Financing of African Economies.

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