China Africa Development Fund (CADF): An office in Addis Ababa

Only a few insiders know: the China Africa Development Fund (ACDE) opened an office in Addis Ababa. The first of its kind on the continent, it has been operational since late March 2010. Its primary mission is to strengthen cooperation between China and African development.

Note that the creation of CADF part of the statement made by Chinese President Hu Jintao at the Beijing Forum on China-Africa Cooperation in 2006.

Remember also that the CADF is an investment fund in stocks that supports and encourages Chinese investment in Africa. The capital of this fund is five billion dollars and an initial budget of this amount to one billion dollars has been funded by the Chinese Development Bank.

Since its inception in June 2007, the China Africa Development Fund has enabled the completion of more than thirty African investments totaling more than $ 700 million U.S. CADF said in a statement.

This should allow Chinese companies to invest over three billion dollars and significantly boost the continent’s economic development and improve living conditions of its population by the same statement.

Thus, the opening of the office of CADF Addis Ababa is a major initiative in strengthening its investment in Africa.

The Fund plans to open other representative offices on the mainland in the immediate future to promote mutually beneficial cooperation for China and African countries.

Comments are closed.