{"id":8444,"date":"2018-03-07T00:05:04","date_gmt":"2018-03-07T07:05:04","guid":{"rendered":"http:\/\/nigerianews.ca\/?post_type=news&p=8444"},"modified":"2018-03-07T00:05:04","modified_gmt":"2018-03-07T07:05:04","slug":"aid-or-investment","status":"publish","type":"news","link":"https:\/\/nigerianews.ca\/news\/aid-or-investment\/","title":{"rendered":"Aid or Investment? U.S. pledges $533M in aid to Africa, criticises Chinese investment in Africa"},"content":{"rendered":"
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The United States will give more than $533 million in humanitarian aid for victims of conflicts and drought in Ethiopia, Somalia, South Sudan and the West and Central African countries bordering Lake Chad, U.S. Secretary of State Rex Tillerson said on Tuesday.<\/p>\n<\/div>\n

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Tillerson made the announcement at a speech in Virginia before departing for a week-long trip to several African countries. He also said the United States supported the creation of a development finance institution for Africa.<\/p>\n

Tillerson contrasted the United States\u2019 work on the African continent, which he said promoted \u201csustainable growth,\u201d with that of China, which recently pledged $124 billion for its Silk Road plan to expand links between Asia, Africa, Europe and other places.<\/p>\n

Tillerson said China\u2019s investment in Africa \u201cencouraged dependency\u201d.<\/p>\n

\u201cChinese investment does have the potential to address Africa\u2019s infrastructure gap, but its approach has led to mounting debt and few, if any, jobs in most countries,\u201d said Tillerson.<\/p>\n

\u201cWhen coupled with the political and fiscal pressure, this endangers Africa\u2019s natural resources and its long-term economic and political stability,\u201d Tillerson added.<\/p>\n

Tillerson added that the US would continue to help fight corruption and promote transparent institutions across the continent.<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"

The United States will give more than $533 million in humanitarian aid for victims of conflicts and drought in Ethiopia, Somalia, South Sudan and the West and Central African countries bordering Lake Chad, U.S. Secretary of State Rex Tillerson said on Tuesday. Tillerson made the announcement at a speech in Virginia before departing for a […]<\/p>\n","protected":false},"author":2,"featured_media":8445,"comment_status":"open","ping_status":"closed","template":"","tags":[],"news-category":[322],"class_list":["post-8444","news","type-news","status-publish","has-post-thumbnail","hentry","news-category-world","entry","has-media"],"yoast_head":"\nAid or Investment? U.S. pledges $533M in aid to Africa, criticises Chinese investment in Africa<\/title>\n<meta name=\"description\" content=\"Aid or Investment? 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