China has taken a generous step during a summit in Egypt where it announced a loan of $10 billion for Africa. This announcement was made by the Chinese leader, Wen Jiabao, during a forum related to China-Africa cooperation. This forum is attended by officials from 50 different nations.

The aim of the loan is to allow Africa to be able to build up financing capacity. Other than the Chinese leader, President’s of Sudan and Zimbabwe are the other key attendees of the forum. The program started with the inaugural note by Egyptian Prime Minister who talked about peace and growth and also the improved cooperation between China and Africa.