SOUTH AFRICA
China signed 26 agreements pledging to invest $6.5 billion to support South Africa's flagging economy and its own exports to the nation, as President Xi Jinping met with counterpart Jacob Zuma ahead of a summit this week with leaders from across the African continent.
China signed 26 agreements pledging to invest $6.5 billion to support South Africa's flagging economy and its own exports to the nation, as President Xi Jinping met with counterpart Jacob Zuma ahead of a summit this week with leaders from across the African continent.
The deals include a $2.5 billion credit line provided by China Export & Credit Insurance Corp. to the South African rail and transport operator Transnet SOC Ltd. for electrical and mechanical equipment, and a $500 million China Development Bank loan-finance accord that will help electricity utility Eskom Holdings SOC Ltd. to complete its power plant construction plan.
The agreements were signed Wednesday in Pretoria, the capital. - Bloomberg