China calls on developed world to honor Africa pledges

Premier Wen Jiabao used the opening of the African Development Bank's (AfDB) annual meeting in Shanghai on Wednesday to call on developed nations to make good on their promises of aid and market access for Africa. While stressing that Africa ultimately needed to learn how to become self-sustaining, Wen said that "international support and assistance is still indispensable", the Financial Times reported. The premier also promised further help from China in boosting economic and social development on the continent. The Organization for Economic Cooperation and Development estimates that China controls more than half the market for development projects in Africa thanks to its cheap and fast delivery. It also sources a large amount of natural resources from the continent. In response to criticism that China's involvement will be disadvantageous in the long term, Wen said China had canceled US$1.4 billion of African debt, would double aid to the continent by 2009, set up a US$5 billion African development fund and reduce tariffs on certain African imports.