China’s Xi pledges 1.6 billion dollars loans, aid to revive Middle East

Chinese President Xi Jinping speaks to representatives of Arab League member states at a China Arab forum at the Great Hall of the People in Beijing, China, July 10, 2018. REUTERS/Thomas Peter

Beijing, July 10 (INP): Chinese President Xi Jinping has pledged a package of twenty billion dollars in loans and 1.6 billion in financial aid to countries in the Middle East, to revive economic growth in the region.

Talking with representatives of 21 Arab nations in Beijing, Xi Jinping said that development is key to resolving many security problems in the Middle East.

Beijing has ramped up engagement in the Middle East in recent years as Arab nations play an important role in Chinese President’s signature Belt and Road foreign policy plan for strong trade routes linking China with central and southeast Asia.