July 29, 2016
The Johannesburg Summit and the 6th Ministerial Conference of the Forum on China-Africa Cooperation were held in South Africa in December 2015. On behalf of the Chinese government, President Xi Jinping announced at the summit to upgrade the new type of China-Africa strategic partnership to a comprehensive strategic and cooperative partnership and to implement ten cooperation plans on industrialisation, agricultural modernisation, infrastructure development, and public health with African countries. To ensure the successful implementation of these ten cooperation plans, China has decided to provide a total of US$60 billion funding support. It includes USD5 billion of grant and interest-free loans, US$35 billion of loans of preferential nature with more favorable terms and export credit line, an increase of US$5 billion to the China-Africa Development Fund and the special loan for the development of African SMEs respectively, and establishing the China-Africa Fund for Production Capacity Cooperation with an initial contribution of US$10 billion.
Sierra Leone is set to benefit from the above US$60 billion funding support. Mr. Shen Xiaokai, Economic and Commercial Counselor of the Chinese Embassy in Freetown, disclosed in an exclusive interview that besides the well-known projects such as the National Stadium, the Youyi Building, the Mange and Kambia bridges, the New Building for Ministry of Foreign Affairs, the Regent Youyi Road, etc., China is now planning to support Sierra Leone with grants to build two projects.
The first one is the West African Tropical Disease Research and Prevention Centre, which is the most significant project for the Post-Ebola recovery plan. The centre will include a new CDC office building and help to strengthen the long term ability of public health system for Sierra Leone. The second one is the 3.2km Freetown link way road from Lumkokwing University to Regent, which is also very important to facilitate traveling outside Freetown. With this link road, directly connected to the Regent Youyi Road and the Wellington-Masiaka Highway, it will only take around half an hour to travel from the proposed Mamamah New Airport to Hill Station in town.
With loans of preferential natures, China is focusing on the Mamamah International Airport Project and the Rokel Water Supply Project, said Mr. Shen, who added that China understands the importance of the Mamamah International Airport Project as the No.1 priority for the Sierra Leonean government and people, thus the project has already been included into the budget of the US$60 billion.
He also emphasised that with US$200 million to implement the Phase I of this project, the new airport would be fully functional and in line with international standards. “After Phase I, Sierra Leone could further apply for more funding support from China to do the Phase II which would make the new airport a magnificent landmark. It is advisable that Sierra Leone grasp this funding opportunity so as to let the new airport be kicked off as soon as possible,” he said.
As for the Rokel Water Supply Project, Mr. Shen revealed that China had noticed the serious lack of water supply for Freetown and the urgent need for the Rokel Water Supply Project. He said himself is also quite concerned about the livelihood of the Freetown’s estimated two million inhabitants, who are struggling to survive without any reliable water supply.
“The Rokel Water Supply Project will definitely and significantly help to solve the problem of water shortage in Freetown,” Mr. Shen, adding that the project would be implemented as soon as the Mamamah New Airport project has kcked-off.
However, due to some external reasons, neither of the above two loan projects with preferential natures has commenced yet.
With regards to the USD 60 billion funding support, Mr. Shen said, African countries were entitled to raise their project proposals and the estimated funds would be determined on the basis of the feasibility and evaluation results of the projects rather than being allocated on a country-specific basis.
Mr. Shen further emphasised that the principle of Chinese aid is – the project should be raised, agreed and led by the recipient country, adding that Sierra Leonean people and government know best which project should be their first priority. He further urged that Sierra Leone make the best out of the US$60 billion offered by the Chinese government and submit more project proposals and try to secure more funds to implement as many projects like the Mamamah Airport, as possible.
He said that his office would always be open to any feasible and practical project proposals from the Sierra Leone government, which could tremendously accelerate the process of Agenda for Prosperity and the Post-Ebola Recovery Plan for Sierra Leone.
Mr. Shen concluded that his office was also coordinating Chinese financial banks and agencies so as to provide more commercial loans from this US$60 billion funding support for Small and Medium Enterprises in Sierra Leone.