Chinese Gov’t Committed to Investing 70 Billion RMB in Africa Over Coming 3 Years.

Addis Ababa: Wang Shaodan, Chairman of the China-Africa Development Fund (CADF), outlined the goals behind the fund's establishment, emphasizing the Chinese government's commitment to investing 70 billion RMB in Africa over the next three years. He noted plans to double current investments to support sustainable development across the continent. This was revealed during his meeting today with Dagato Kumbe, Deputy Commissioner of Ethiopian Investment Commission in Addis Ababa.According to Ethiopian News Agency, during their meeting, Dagato highlighted the significant macroeconomic reforms implemented by the Ethiopian government and the progress achieved thus far. He also acknowledged the substantial investments being made by Chinese investors in Ethiopia, noting their important role in the country's foreign direct investment (FDI) landscape.In response, Wang outlined the goals behind the establishment of the CADF, emphasizing the Chinese government's commitment to investing 70 billion RMB in Africa over th e next three years, with plans to double current investments. He mentioned that CADF has already invested over 73 million USD in Ethiopia and expressed interest in partnering with the EIC to facilitate further investments.Looking ahead, both parties agreed to strengthen their collaboration in promoting Chinese investments in Ethiopia, support the reinvestment and expansion of existing Chinese ventures, and enhance exchanges of updates on the economic and investment ecosystem between the two parties.