Minister of Foreign Affairs and International Cooperation Principal Secretary Ben Botolo has revealed that China will commit to supporting Malawi and 53 African countries’ private sector endeavors, as an implementation of the 2018 Forum on China-Africa Cooperation (Focac) action plan.

The development is an advancement of China and Malawi’s diplomatic ties, as China has constructed several infrastructures in the country, including the Karonga-Chitipa Road, Bingu National Stadium, Parliament Building, President’s Walmont Hotel and presidential villas.

About 80 delegates from China and 53 African countries attended the Focac summit, where Botolo confirmed engaging with the Chinese banks’ representatives, also involving the Malawi Confederation of Chambers of Commerce and Industry [MCCCI] and other private sector players in Malawi on how they can access the funds and then we move forward as a country.

China Development Bank chief economist Liu Yong told the gathering that the volume of bilateral trade between China and Africa stood at $200 billion (about K150 trillion) last year, adding that trade between the two parties has grown over the past 16 years. He pledged cooperation on behalf of the eight Chinese financial firms with their African partners to improve capacity of China’s infrastructure financing across the continent.