Chinese president pledges billions in loans, aid to Arab nations

China’s President Xi Jinping on Tuesday pledged more than $23 billion in lines of credit, loans and humanitarian assistance to Arab countries.

President Xi told Arab leaders and delegates participating in the eighth ministerial meeting of the China-Arab States Cooperation Forum in Beijing that Syria, Yemen, Jordan and Lebanon would receive $91 million in humanitarian assistance. He explained that another $151 million was earmarked for aid projects, with the remaining $23 billion designated for financial and economic cooperation.

“China and Arab states must synergize our development strategies in pursuit of our respective dream of rejuvenation,” Xi said.

The Chinese president further announced that his country intends to provide Palestinians with more than $15 million in economic aid, adding that he would help the Palestinian people to strengthen their diplomatic interests in the international arena.

Xi told the participants that the forum is part of a special Chinese program for economic reconstruction and industrial revitalization. He said China supports the political settlement to promote peace and stability in the Middle East, calling Arab countries China’s “good friends and brothers”.

The Middle East is also a key node in China’s Belt and Road Initiative (BRI) that envisages linking Beijing to other parts of Asia, Europe and Africa via a network of ports, railways, economic development zones and power plants.

Source: International Islamic News Agency


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