China-Africa cooperation is on the rise: Zimbabwe receives $62 million in aid from China to boost economic growth and food security
¬ Zimbabwe signed a $55 million cooperation agreement and a $69 million food aid agreement with China
¬ The agreements aim to promote social economic growth, food security, and support targeted projects to improve the livelihoods of vulnerable groups
¬ With the drive of Zimbabwe's mineral and tobacco exports, bilateral trade reached $3.8 billion in 2024
Zimbabwe signed a $5.5 million economic and technical cooperation agreement with China and pledged to provide about $6.9 million in food aid to this southern African country.
These agreements were signed on August 6 (Wednesday) and are aimed at promoting Zimbabwe's socio-economic development, strengthening food security, and supporting targeted projects to improve the livelihoods of vulnerable groups.
These commitments were made following President Emmerson Mnangagwa's state visit to Beijing in 2024, during which multiple agreements were signed in the fields of agriculture, mining, and infrastructure. At that time, China expressed willingness to expand cooperation with Zimbabwe in areas such as investment, trade, clean energy, and the digital economy.
This partnership aligns with China's broader vision of building a China-Africa cooperation network to promote mutual economic growth. In 2023, bilateral trade increased by 29.9% to $3.12 billion, mainly driven by Zimbabwe's exports of minerals and tobacco to China.
According to the International Trade Center, trade volume is estimated to reach $3.8 billion in 2024, an increase of 23.9% from the previous year.
Source: ecofinagency
Original: www.toutiao.com/article/1840034539683852/
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