For the 53 African nations attending the annual Forum on China-Africa Cooperation (FOCAC) in Beijing, the welcome news was President Xi Jinping’s $60 billion pledge for new projects. FOCAC takes place every three years, offering a platform for China and African countries to coordinate cooperation mechanisms on development investments, cultural exchanges and military cooperation, among a wider range of topics. FOCAC 2018 marked the fourth time the Chinese government hosted the event in Beijing.
The $60 billion promise matched the pledge total from the previous FOCAC in 2015. But the distribution breakdown is different this time. Here’s what you need to know:
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