Chinas Xi offers $60 billion Africa aid, says 'no strings attached'

Cyril Ramaphosa and Xi Jinping

President Xi Jinping told African leaders yesterday that China's investments on the continent have "no political strings attached", pledging $60 billion in new development financing, even as Beijing is increasingly criticised over its debt-heavy projects abroad.

Xi offered the funding at the start of a two-day China-Africa summit that focused on his cherished Belt and Road initiative. The money comes on top of $60 billion Beijing offered in 2015.

The massive scheme is aimed at improving Chinese access to foreign markets and resources, and boosting Beijing's influence abroad. It has already seen China loan billions of dollars to countries in Asia and Africa for major infrastructure projects. But critics warn that the Chinese leader's pet project is burying some countries under massive debt.

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