Tag: Foreign loans

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China Pledges $10 Billion to African Nations

The New York Times reports on the Forum on African-China Cooperation currently underway in Egypt:Prime Minister Wen Jiabao pledged to grant African countries $10 billion in low-interest development loans over the next three years, establish a $1 billion loan program for small and medium-size businesses, and forgive the remaining debt on certain interest-free loans that China has granted less-deve