China offers 220 mn dollars loan to African firms | world | Hindustan Times
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China offers 220 mn dollars loan to African firms

China has signed contracts worth $220 million with African countries to support projects of small and medium firms in Africa, the Chinese ministry of commerce said.

world Updated: Jun 13, 2011 11:10 IST

China has signed contracts worth $220 million with African countries to support projects of small and medium firms in Africa, the Chinese ministry of commerce said.

Besides the fund for 13 projects, the China Development Bank has pledged support for 19 other projects with loans totalling $483 million, Xinhua reports.

The special loans to the African enterprises have led to the creation of 1,500 jobs and has also facilitated foreign trade worth more than $40 million, the ministry said.