China-Africa Development Fund

China-Africa Development Fund (CADFund) is one of the “Eight Measures” for China-Africa practical cooperation announced by the Chinese government on the Beijing Summit of the Forum on China-Africa Cooperation. CADFund was inaugurated on 26 June, 2007. CADFund aims to encourage and support Chinese enterprises to invest in Africa. At the Johannesburg Summit of the FOCAC on December, 2015, Chinese President Xi Jinping announced an additional US$5 billion for the China-Africa Development Fund, which makes CADFund reach a designed total capital of US$10 billion. CADFund has invested in agriculture, infrastructure, manufacturing, industrial park, resource development, etc. The investments inject vibrancy into the China-Africa economic and trade cooperation in the new era, create positive economic and social outcomes, consolidate the foundation for the development of African economy, strengthen Africa’s capacity to develop on its own and enhance Africa’s competitiveness in the global economic landscape. Therefore, CADFund has won widespread praise from the welcoming African countries and become the main platform for Chinese investment in Africa. China will continue to give full play to CADFund, which supports Chinese firms to invest in Africa and seeks Chinese partners for African projects. Firms meeting the requirements could apply.