China pledges $60 billion in funding support to Africa

Chinese President Xi Jinping announced Friday that the country will pledge a new round of funding support to Africa's development, worth $60 billion. Analysts had wondered if the pace of Chinese investment in Africa would slow, particularly in infrastructure projects, because of the slowing growth of the Chinese economy. The announcement, however, seems to indicate that China's commitment to the continent will continue, and it will be focused on 10 projects over the next three years. Read more