China Africa Development Fund Investment Helps China and Africa Jointly Build the "the Belt and Road" with High Quality

From October 17 to 18, the third "the Belt and Road" International Cooperation Summit Forum was held in Beijing.   Multi country infrastructure livelihood and trade supply chain projects in Africa have been included in the list of multilateral cooperation outcome documents and the list of practical cooperation projects of this forum, fully demonstrating the important platform role of the China Africa Development Fund in helping China and Africa jointly build the "the Belt and Road" high-quality development with investment.
  African countries actively support and actively participate in the joint construction of the "the Belt and Road". As of June 2023, 52 African countries and the AU Commission have signed cooperation documents with China to jointly build the "the Belt and Road", and Africa has become one of the most important continents participating in the "the Belt and Road" initiative. As China's first equity fund focusing on investment in Africa, the China Africa Development Fund has always adhered to the policy concept of "authenticity, affinity and sincerity" and the correct concept of righteousness and benefit, based on the needs of Africa's development, and actively promoted the successive initiatives of the Forum on China Africa Cooperation, such as the "the Belt and Road Initiative" and the "Nine Projects", to deeply connect with the development strategies of African countries, and through a variety of investment and financing methods focusing on equity investment, to drive Chinese capital, superior production capacity Advanced technology, standards and management experience have been introduced into Africa to create jobs, increase exports and taxes, enhance Africa's independent development capacity, achieve mutual benefit and common development, and play a leading and pilot role in the joint construction of the "the Belt and Road" and the building of a community of shared future between China and Africa. As of now, the China Africa Development Fund has made investment decisions totaling over 7.1 billion US dollars in 39 African countries, leveraging Chinese enterprises to invest and finance over 31 billion US dollars in Africa. The projects cover key areas such as infrastructure, green development, digital innovation, agriculture and people's livelihood, and production capacity cooperation.
Using green as the foundation for investment cooperation and supporting sustainable development in Africa

The "the Belt and Road" is a huge force to promote green development. As a pioneer of China Africa joint construction of the green "the Belt and Road", the China Africa Development Fund has invested in many green projects such as Poly GCL South Africa PV Power Station, Huaxin Cement Tanzania Cement Plant, etc. since its establishment, and has accumulated rich investment experience in reducing carbon emissions, saving energy, and purifying the environment.

At the Green Development High level Forum of the the Belt and Road International Cooperation Summit Forum, the Green Development International Alliance, together with several investment and financing institutions and key enterprises such as the China Africa Development Fund, officially launched the green development investment and financing partnership, which was included in the list of multilateral cooperation outcome documents of the Summit Forum. In the future, the partnership will give full play to the experience and advantages of partners in project selection, feasibility study improvement, mixed financing, green certification, low-carbon finance, etc., to create a communication and cooperation platform and provide practical solutions for the investment and financing bottlenecks faced in the green "the Belt and Road" construction.
During the current summit forum, the China Africa Development Fund also contributed 300 million US dollars worth of RMB as a cornerstone investor to ensure the successful issuance of Egypt's sustainable development sovereign panda bond, which was included in the list of practical cooperation projects at this summit forum. This issuance has achieved a breakthrough in zero panda bonds in the African region, and is also the first sustainable development sovereign panda bond and the first sovereign panda bond to adopt a guarantee structure (unconditional and irrevocable guarantees provided by two AAA level international institutions, the Asian Infrastructure Investment and Development Bank and the African Development Bank). The issuance raised a total of 3.5 billion yuan, which is also the largest single issuance of sovereign panda bonds to date. The raised funds will go abroad in the form of RMB and be used for Egypt's clean transportation, renewable energy and other sustainable development projects, making positive contributions to promoting the internationalization of RMB and the joint construction of the green "the Belt and Road" between China and Egypt.
Assist in infrastructure connectivity and break development bottlenecks
Facility connectivity is a priority area for China and Africa to jointly build the "the Belt and Road". Since its establishment, the China Africa Development Fund has invested in a number of typical projects such as Nigeria's TICT port, South Africa's photovoltaic power plant, and Ghana's AWA aviation. At the same time, it has supported the construction of economic and trade industrial parks such as Nigeria's Leki Free Trade Zone and Egypt's Suez Cooperation Zone, opening up economic and trade channels for the local area and effectively promoting the circulation of goods, funds, technology, and personnel.
In recent years, due to the debt difficulties of local governments, some African livelihood projects and infrastructure construction projects have faced challenges such as difficult performance by owners and delays in construction, which have affected local economic and social development and also brought difficulties to the sustainable operation of enterprises. In 2022, the China Africa Development Fund successfully implemented the "the Belt and Road" renewable private corporate bond project of Shaanxi Construction Engineering Group, targeted to support the continued implementation of infrastructure projects of Shaanxi Construction Engineering Group in five African countries, and effectively solved the financing problems of key projects. The infrastructure livelihood and trade supply chain projects in Ghana, Kenya, Angola and other countries, which were also included in the list of practical cooperation projects of this Summit Forum, are another positive attempt by the China Africa Development Fund to support enterprises to participate in infrastructure construction in Africa by subscribing to the "the Belt and Road" ordinary corporate bonds issued by Gansu Construction Investment. The fund subscription funds will be used by the issuer to implement hospital, highway, housing construction, and China Africa trade supply chain projects in Africa, to assist in infrastructure connectivity in Africa, while also providing procurement, logistics, and supply chain financial services to local Chinese enterprises in Africa, ensuring supply chain security and stability, and innovating indirect support for private enterprises, effectively supporting the development of China Africa economic and trade activities.
Promoting the joint construction of the "Digital Silk Road" between China and Africa, empowering high-quality development
Digital innovation cooperation is an important content of the "Eight Actions" of this summit forum, which aims to support the construction of an open world economy. In recent years, the China Africa Development Fund has actively followed the trend of a new round of technological revolution and industrial transformation, responded to the development demands of African countries' digital infrastructure, digital economy, new industries, and new formats, played a role of "planning investment, guiding investment", and through strategic investments in China Telecom and China Mobile, supported and guided leading enterprises in the Chinese communication industry to invest and develop in Africa, and promoted the construction of fiber optic backbone networks, submarine optical cables Data center and other projects, and actively serve the development of local community remote education, remote healthcare and other livelihood undertakings. On this basis, the China Africa Development Fund has launched the "China Africa Digital Economy Cooperation Entrepreneur Initiative", encouraging upstream and downstream enterprises to actively participate in investment in Africa's digital infrastructure and digital economy, and empowering traditional industries to undergo digital transformation and upgrading. The Mozambique Agricultural Park project invested by the China Africa Development Fund introduces domestic drone products and related innovative technologies to assist in the smart upgrading of farms and effectively achieve increased grain production and income. In addition, the China Africa Development Fund actively leverages the advantages of familiarity with Africa to provide integration and consulting services for domestic drones to open up the African agricultural market, achieving good results.
Focusing on improving people's livelihoods in Africa and promoting people-to-people communication between China and Africa
The China Africa Development Fund actively implements the people centred development philosophy, focuses on supporting the development of Africa's agriculture, medicine and other weak links, increases employment and improves local people's livelihood through investment, and solidifies the public opinion foundation and social foundation for the joint construction of the "the Belt and Road" between China and Africa. The Tanzania sisal farm project invested by the China Africa Development Fund employs approximately 750 local employees, with over 60000 directly or indirectly benefiting; Sisal Farm also undertook the first village level poverty reduction learning center established by the China International Poverty Alleviation Center in Africa, promoting China's technological experience. This project, as a model of poverty reduction cooperation, was included in the 2021 white paper "China's Practice in Human Poverty Reduction". The Humanwell Mali Pharmaceutical Factory project, supported by the China Africa Development Fund, is the most modernized pharmaceutical factory in West Africa. It produces 40 million bottles of large infusion fluids and 30 million bottles of syrup annually, ending Mali's history of not being able to independently produce drugs, greatly alleviating the shortage of drugs in West African countries, enhancing the local ability to respond to major public health crises such as the epidemic, and significantly reducing drug market prices, effectively improving drug accessibility, Benefiting the people of West Africa.
Actively carry out trilateral cooperation with Africa and gather international forces to support Africa
The China Africa Development Fund actively implements the principles of consultation, co construction, and sharing, as well as the concept of openness and inclusiveness in investment cooperation with Africa. It focuses on relying on the United Nations platform to carry out tripartite cooperation with Africa, and has deeply explored and formed practical cooperation results in areas such as information exchange, project cooperation, and personnel training. The China Africa Development Fund has collaborated with the United Nations Trade Center to promote the successful implementation of seven Chinese investment projects with a total amount of over 115 million US dollars in the four African countries; Help 20 African small and medium-sized manufacturing enterprises connect with China and promote the facilitation of African product exports to China. In 2020, as the world's first enterprise, the China Africa Development Fund and the United Nations Office for South-South Cooperation jointly launched a special issue on the case of the China Africa Development Fund for South-South cooperation, which received positive responses globally. In 2022, we will implement the "Capacity Building Project" of the China Africa Forum, innovate the "Project+Social Responsibility+Multilateral Platform" model, and rely on the invested Hisense South Africa Home Appliance Park project. Together with the United Nations Office for South-South Cooperation, we will donate smart conference machines to the Gambia to give back to Africa through "China Africa Joint Manufacturing". In May of this year, the China Africa Development Fund, relying on the Hisense South Africa Home Appliance Park and Mozambique Agricultural Park projects, once again collaborated with the United Nations Industrial Development Organization to launch a "Light of Hope" lighting lamp and rice donation activity for South African youth, which received widespread praise from both domestic and foreign sectors.
  In the new decade, China's economic transformation and upgrading will be more closely aligned with Africa's demand for independent development, creating greater development space for investment cooperation between China and Africa.   Management experience "soft connectivity", promote "heart connectivity" in international communication and people to people and cultural exchanges, and jointly write a new chapter of high-quality development of the "the Belt and Road" jointly built by China and Africa with all parties.