China approves China-Africa Development Fund

Source: CCTV.com | 05-14-2007 12:27

China's State Council has approved the establishment of China-Africa Development Fund.

Gao Jian,the vice governor of China Development Bank made the announcement on Sunday is a speech to the Development Finance and Sino-Africa Economic Cooperation Forum.

The CDB, the main initiator of the fund, says the fund will start at one-billion US dollars, and eventually reach five-billion US dollars.

The fund will go into fields such as Africa's agriculture, manufacture and the development of Chinese enterprises in Africa.

Editor:Du Xiaodan