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[Frank Pembleton]

China to offer Africa $5B in credits

President Hu Jintao said Saturday that China will double its aid to African nations, offer $5 billion in loans and credits and train 15,000 African professionals.

The pledge came as Hu opened a meeting with dozens of African leaders that is meant to cement Beijing's ties with Africa.

Hu said in a speech that China will double its aid to Africa from its 2006 level by 2009, though he gave no figures.

Beijing will offer $3 billion in preferential loans and $2 billion of export credits over the next three years and create a China-Africa development fund, Hu said.
Beijing will train 15,000 African professionals, build schools, hospitals and anti-malaria clinics and send Chinese youth volunteers to Africa, Hu said.

Beijing also will increase the number of categories of goods granted tariff-free import status to China from Africa's poorest countries and open three to five economic cooperation zones in Africa, Hu said.

THE ASSOCIATED PRESS/BEIJING