China to provide $10 bln in loans to Africa over 3 yrs

SHARM EL-SHEIKH, Egypt (Reuters) - China will provide $10 billion in loans to Africa over the next three years, Chinese Premier Wen Jiabao said on Sunday.

"We will help Africa build up financing capacity," Wen told a summit in the Egyptian resort of Sharm el-Sheikh, laying out China's assistance to the continent for the next three years. "We will provide $10 billion in concessional loans to African countries."