President Boakai Leads Developmental Initiatives at FOCAC Summit as China Commits $50 Billion to Africa’s Advancement
President Boakai Leads Developmental Initiatives at FOCAC Summit as China Commits $50 Billion to Africa’s Advancement
Beijing, China, September 5, 2024
President Joseph Boakai of Liberia has praised the strategic partnership between Africa and China during the Ninth Forum on China-Africa Cooperation (FOCAC) Summit which runs from September 4-6, 2024 in Beijing, China.
Speaking to global leaders including Chinese President Xi Jinping, Democratic Republic of Congo President Felix Tshisekedi, Rwandan President, Mr. Paul Kagame, and others, President Boakai lauded the partnership for its vital role in Africa’s transformation and highlighted significant developmental projects in Liberia backed by Chinese support.
At the summit, China pledged RMB 360 billion (USD 50 billion) in financial support over the next three years, cementing its role as a key player in Africa’s modernization.
Chinese President Xi Jinping outlined a bold plan to drive Africa’s industrial and economic growth through ten partnership actions, including industrial chain cooperation, infrastructure connectivity, trade facilitation, and health improvements.
The unprecedented commitment marks a major boost to Africa’s development efforts, particularly in areas such as agriculture, healthcare, and green energy.
Liberia, as other African Nations, will benefit from the U.S. $50b pledge by China.
President Boakai outlined key projects in Liberia that are set to benefit from this strengthened cooperation, including the Bo Waterside-Freeport Asphalt Road, two overhead bridges in Monrovia, and a new sewage treatment plant.
Supported by Chinese grants, these projects reflect the deepening ties between the two nations.
“The future of Liberia-China relations is bright and promising,” President Boakai said. “We are committed to a shared future of win-win cooperation, focusing on industrial capacity, infrastructure connectivity, and sustainable development.”
Speaking at the summit, President Boakai also emphasized the importance of governance in fostering strong partnerships.
“Governance encompasses the principles that ensure our institutions are effective, accountable, and responsive to the needs of their citizens,” he stated, underscoring Liberia’s commitment to enhancing transparency, democratic processes, and anti-corruption measures as part of its ARREST Agenda.
The Liberian Chief Executive noted that FOCAC, established 24 years ago, has served as a key platform for strengthening and deepening bilateral ties between China and African countries.
“It has played a pivotal role in promoting economic cooperation and enhancing South-South collaboration on a multilateral level,” President Boakai added, stressing that FOCAC has also drawn global attention to Africa’s vast potential in the international trade arena.
During his address, the Liberian President recounted his personal connection to China, recalling his last meeting with President Xi in 2009, when they both served as Vice Presidents of their respective countries.
He expressed hope that this continued relationship would bear positive outcomes for Liberia and Africa as a whole.
As China reaffirms its role as a pivotal force in Africa’s development, Liberia stands poised to capitalize on these initiatives, ensuring that the partnership continues to yield mutual benefits for both nations.
The announcement of RMB 360 billion (USD 50 billion) in financial support over the next three years shows China’s commitment to Africa’s modernization, economic growth, and global influence.
During Chinese President’s address, President Xi emphasized the need for just and equitable modernization, noting that Africa’s development is a key factor in the broader push for global modernization.
“Without our modernization, there will be no global modernization,” Xi stated, stressing that China and Africa, which together account for one-third of the world’s population, must lead this movement.
Key areas of focus are on industrial chain cooperation, connectivity, trade prosperity, and health improvements.
China will offer RMB 210 billion in credit lines, RMB 80 billion in various forms of assistance, and RMB 70 billion in investments by Chinese companies, transforming the continent’s industries and economies.
Moreover, the “African SMEs Empowerment Program” and over 30 infrastructure connectivity projects aim to strengthen Africa’s global trade capabilities, enhance industrial growth clusters, and accelerate digital transformation.
In health, China will send 2,000 medical personnel to the continent and establish hospitals and joint medical centers to bolster Africa’s healthcare systems.
Additionally, 30 clean energy projects and initiatives in biodiversity conservation promise a green and sustainable future for Africa.
At the same time, Mr. Xi’s vision encompasses modernizing Africa’s agricultural sector, providing RMB 1 billion in emergency food assistance, and implementing community welfare programs that are expected to generate at least one million jobs for Africans.
With the promise of RMB 360 billion in financial support, and an unwavering commitment to partnership, China is not just a partner but a pivotal force in Africa’s rise.
By: Sylvester Choloplay
