China to loan African countries $10 billion

CHINA'S premier yesterday pledged $10 billion in low-interest loans to African nations over the next three years and said Beijing would cancel the government debts of some of the poorest of those countries.

At a two-day China-Africa summit in Egypt, Wen Jiabao also said China would build 100 new clean energy projects for Africa over the same period as part of an effort to help with climate change issues.