China Pledges $50 Billion to South Africa, Africa InfrastructureHilton Shone
China reiterated its commitment to support industrialization in South Africa and the rest of Africa by pledging $50 billion toward infrastructure projects, the Department of Trade and Industry said.
The pledge was made by China’s Vice Minister of Commerce Zhang Xiangchen to the Department of Trade and Industry’s Director-General Lionel October in Pretoria on Tuesday, the department said in statement published on its website.
China will provide 50 technical experts to assist in building and upgrading industrial parks, new power plants. In addition, 200,000 industrial managers will “train and develop local industrial managers,” the department said.