During his visit to Benin, Chinese foreign minister Li Zhaoxing agreed to lend Benin 30 million yuan ($3.8 million) and cancel the African country’s debt. The minister, who is on a seven-African-nation tour, also promised to provide aid to boost administration and transport infrastructure in the impoverished country. China continues to woo the continent with aid and trade in the hope of gaining access to Africa?s large raw material reserves. In November, Chinese President Wen Jintao pledged to boost trade between China and the region to $100 billion per year by 2010.
Source: Chinese FM in Benin on seven-stop Africa tour (AFP)