China pledges Billions to Africa By JOE McDONALD, Associated Press Writer Sat Nov 4, 4:42 PM ET BEIJING - China launched a sweeping effort Saturday to expand its access to Africa's oil and markets, pledging billions of dollars in aid and loans as dozens of leaders from the world's poorest continent opened a conference aimed at building economic ties. President Hu Jintao pledged to double China's aid to Africa from its 2006 level by 2009. Speaking at the conference's opening ceremony, he promised $3 billion in loans, $2 billion in export credits and a $5 billion fund to encourage Chinese investment in Africa China will train 15,000 African professionals, build schools, hospitals and anti-malaria clinics, send agriculture experts and youth volunteers to Africa and build a new conference center for the African Union, Hu said. He said China would double the number of scholarships given to African students to 4,000 by 2009. The US. Upstaged Again?|||Nigeria is the only nation that has any production going on at all.. The rest they are wasting their time/money if they want oil.

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