China-Africa Fund to boost business links
China has established the China-Africa Development Fund with a corpus amount of one billion US dollars to help promote the communist country's investments and businesses in the huge African continent.
The setting up of the fund was approved by the State Council, the Chinese cabinet, vice governor of China Development Bank (CDB), Gao Jian said.
The approval comes ahead of the 2007 Annual Meetings of the Board of Governors of African Development Bank Group which will be held in the eastern Chinese metropolis, Shanghai from May 16 to 17.
This is the second time the ADB is holding its annual meetings outside Africa and first time it is held in Asia, signalling the importance Africa is attaching to its ties with China. Beijing joined the ADB in 1985.
CBD, as the main initiator of the fund, has drafted the plan on establishing the China-Africa Development Fund, Gao said while addressing the Development Finance and Sino-Africa Economic Cooperation Forum in Shanghai on Sunday.
According to the draft plan, the fund will start from one billion US Dollars, and then add up to three billion US Dollars in the second phase, until eventually amount to five billion dollars.
The business scope of the fund mainly includes equity and quasi-equity investment, fund investments, fund management, investment management and consulting services, Xinhua news agency reported.
Currently, no vaccine or treatment for Langya virus is available, and the only solution is supportive care to manage complications pertaining to the zoonotic disease. A study published earlier revealed that the Langya virus was first spotted in human beings in 2019, with majority of the recent cases this year.
Bangladesh's finance minister AHM Mustafa Kamal has warned that developing countries must think twice about taking more loans through China's Belt and Road Initiative as global inflation and slowing growth add to the strains on indebted emerging markets. “Everybody is blaming China. China cannot disagree. It's their responsibility,” he added. The country, a participant in China's BRI, owes about $4 billion, or 6 per cent of its total foreign debt, to Beijing.
Israeli security forces killed a Palestinian militant commander and another fighter in a gunbattle in the occupied West Bank on Tuesday, the military said, triggering further clashes in which Palestinians said two teens were killed in separate incidents. Israeli forces surrounded the house of Ibrahim al-Nabulsi, a senior commander of Fatah's Al-Aqsa Martyrs Brigades militant group long on Israel's wanted list.
United States House Speaker Nancy Pelosi's Asia tour, which won bipartisan support at home and among the world's democracies, has escalated tensions with not just one, but two, regional rivals. Pelosi last week led a congressional delegation to Taiwan, in addition to Singapore, Malaysia, South Korea, and Japan, despite weeks of warnings from Beijing of repercussions if the top leader in the US Congress landed in Taiwan.
NEW DELHI: China's “geostrategic ambitions” go well beyond Taiwan as its influence extends to Southeast and South Asia and all freedom-loving countries should work together to respond to the “expansion of authoritarianism”, Taiwan's foreign minister Joseph Wu said on Tuesday. China's People's Liberation Army has said the drills focused on joint blockade and joint support operations. “China's influence also extends into Southeast Asia, South Asia, and even Africa and Latin America,” he said.