Wang Yi Clarifies ‘Debt Trap’ in China-Africa Cooperation

<p><em>Wang Yi Clarifies<&sol;em><br &sol;>&NewLine;<strong><a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">OpenLife Nigeria<&sol;a><&sol;strong> reports that China State Councilor and Foreign Minister Wang Yi &comma; has clarified the growing insinuation that Africa is being re colonized by the Asian industrialists&period;<br &sol;>&NewLine;He stressed that the China-Africa cooperation is South-South cooperation and mutual support and assistance between developing countries&period;<br &sol;>&NewLine;The clarification came when Wang Yi and Kenyan Cabinet Secretary for Foreign Affairs <a href&equals;"https&colon;&sol;&sol;punchng&period;com&sol;">Raychelle Awuor Omamo<&sol;a> jointly met the press in Mombasa&period;<br &sol;>&NewLine;Wang Yi refuted the allegation that China&&num;8217&semi;s cooperation with Africa has created a &&num;8220&semi;debt trap&&num;8221&semi;&period;<br &sol;>&NewLine;Wang Yi stressed&comma; China-Africa cooperation is South-South cooperation and mutual support and assistance between developing countries&period;<br &sol;>&NewLine;In conducting cooperation with Africa&comma; China has never attached any political strings or imposed anything on others&period; All China-Kenya cooperation projects have been scientifically planned and appraised in detail&comma; bringing benefits to the Kenyan people and boosting Kenya&&num;8217&semi;s national development and revitalization&period; Eighty percent of Kenya&&num;8217&semi;s foreign debt is owed by multilateral financial institutions&comma; and its debt to China is mainly concessional loans&period;<br &sol;>&NewLine;Wang Yi emphasized&comma; the so-called &&num;8220&semi;debt trap&&num;8221&semi; in Africa is not a fact&comma; but a malicious hype-up by some people&period; It is an &&num;8220&semi;utterance trap&&num;8221&semi; created by those forces that do not want to see Africa speed up development&period; If there is any &&num;8220&semi;trap&&num;8221&semi; in Africa&comma; it is the &&num;8220&semi;poverty trap&&num;8221&semi; and the &&num;8220&semi;underdevelopment trap&&num;8221&semi;&comma; which Africa should get rid of as soon as possible&period; China is ready to work with all friendly countries to help African countries speed up post-pandemic recovery&comma; eliminate poverty and underdevelopment&comma; catch up with the times as soon as possible&comma; achieve common development and create a better future&period;<&sol;p>&NewLine;<p><strong>SOURCE&colon; Ministry of Foreign Affairs of the People&&num;8217&semi;s Republic of China<&sol;strong><&sol;p>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;