Chinese Premier Wen Jiabao today offered Africa $10 billion in concessional loans over the next three years, saying China was a "true and trusted friend" of the continent and its people. This was revealed at a summit held at the Egyptian resort of Sharm el-Sheikh.
The aid offer is double that unveiled by President Hu Jintao at the last summit in Beijing in 2006, as China aims to boost a relationship which politically goes back decades and is now economically booming, to the discomfort of some in the West.

Wen brushed aside concerns that China was only interested in Africa's natural resources to help feed its booming economy. Besides the loans, Wen said China would help Africa develop clean energy and cope with climate change, encourage Chinese financial institutions to lend to smaller African firms and expand market access for African products.

He also called for greater international help for the continent, saying Africa's development is an essential part of achieving global development. Wen further said that as the sincere and dependable friend of Africa, China deeply feels the difficulties and challenges faced by Africa. - Reuters