China offers $600m in aid, loans to Portuguese-speaking countries in Asia, Africa

MACAO — China will offer aid and preferential loans worth 4 billion yuan (almost $600 million) to Portuguese-speaking countries(PSCs) in Asia and Africa in the next three years, Premier Li Keqiang announced on Oct 11.

Premier Li made the announcement at the opening ceremony of the 5th Ministerial Conference of the Forum for Economic and Trade Cooperation between China and Portuguese-speaking countries in Macao.

At least 2 billion yuan of aid will be given to help develop agriculture, facilitate trade and investment, prevent and control malaria, and conduct research on traditional medicine in Angola, Cape Verde, Guinea Bissau, Mozambique and Timor-Leste, according to the Premier.

At least 2 billion yuan of preferential loans will be offered to promote industrial production capacity cooperation and infrastructure development in these countries, Premier Li said.

China will cancel 500 million yuan of interest-free loans from underdeveloped Portuguese-speaking countries in Asia and Africa, Premier Li said.

China also pledges to send medical teams, offer training programs and government scholarships to the countries, and help those in need build marine meteorological facilities in response to disasters and climate change.