AFRICA

chinese company signs agreement to expand airport in EthiopiaThe Ethiopian Airports Enterprise (EAE) has hired China Road and Bridge Corporation (CRBC) Addis Engineering to expand the Addis Ababa Bole International Airport in December， 2010.Both companies on Tuesday signed a construction agreement valued at 1.1 billion Birr (about 66.7 million U.S. dollars) to expand the airport’s aircraft parking area and taxiway and restore the existing running way.EAE Director General Shiferaw Alemu and CRBC Addis Engineering General Manager Wang Yang signed the agreement.Shiferaw said EAE will cover the total costs for the projects.When the projects are finished， the airport will be able to park 44 aircraft， as compared to the 19 aircraft it can currently hold， he said.Shiferaw also said the airport will be able to park large aircraft， including Boeing 747 and Boeing 777 after the expansion. (Xinhua)china Exim Bank eyes Africa loans， commodity focusThe Export-Import Bank of China sees plenty of opportunity to extend loans in Africa， focussing on raw materials and oil， while commercial banks are steering clear of the risk， its chief executive said in December， 2010.“There are a lot of areas to operate - particularly in the raw materials and oil sector. Certainly this is the area we will focus on，” Exim Bank Chairman Li Ruogu told European and Chinese executives， bankers and officials meeting in Luxembourg.“China does not interfere in the internal affairs of Africa. What we want to do is foster their own development capacity，” Li told the conference.Exim Bank is one of China’s three policy banks that extend credit in line with government initiatives.“Very few foreign commercial banks are considering providing finance in Africa. They may see the risk aspects more than they see the benefits，” Li told Reuters.“We take a long-term view. We don’t expect profits this year or next year; we see things in decades，” he said.“If the Europeans follow the Chinese example they may have an opportunity in Africa，” Li added.He said Exim Bank would also focus on Africa’s agriculture sector， where it sees a potential for recovery and future exports， potentially supplying China’s booming demand for basic commodities. (Xinhua)china helps Africa build over 142 agricultural projects by end of 2009China had helped build over 142 agricultural projects in Africa by the end of 2009， according to a white paper on China-Africa Economic and Trade Cooperation released on December 23， 2010.The projects mainly include pilot agro-technical stations， stations for popularizing agricultural techniques， farms， and agricultural technology demonstration centers， the white paper said.China said agriculture is a priority field for China-Africa economic and trade cooperation， and helping Africa solve its food security problem is the ultimate goal in their agricultural cooperation.Currently， the two sides have conducted cooperation in agricultural infrastructure construction， food production and breeding industry， exchange and transfer of agricultural practical techniques， and processing， storage and transport of agricultural products.The Chinese government also encourages its enterprises to invest in agricultural product processing and agricultural development projects in Africa， according to the white paper.To improve the livelihood of African people， China has made great efforts to assist African countries to build public facilities， improve their medical care and public health service， reduce their debts， and provide disaster relief and humanitarian aid， the white paper said.The 29-page white paper， released by the State Council Information Office， is the first white paper on its economic and trade cooperation with Africa. (Xinhua)